Restaurant India News: Swiggy Stock Moves Ahead of Q2 Results; Analysts Predict Sequential Recovery in Losses

Shares of Swiggy, the food delivery and quick commerce company, were off the day’s lows on October 30, ahead of its September quarter results, with analysts projecting a sequential improvement in performance. Market experts expect the company to report a narrowing of net loss compared to the previous quarter, driven by better unit economics and improving demand trends across both food delivery and Instamart operations.

According to Reuters, analysts expect Swiggy’s net loss to be 12.7 percent lower than the previous quarter. In the June quarter, Swiggy reported a 96 percent year-on-year increase in net loss to Rs 1,197 crore, while revenue from operations rose 54 percent YoY to Rs 4,961 crore in Q1FY26, compared to Rs 4,410 crore in the prior quarter.

Earlier this year, Swiggy stated that the adjusted core loss for Instamart, its expanding quick commerce business, had likely reached its peak. The company said in May, “From here on, we expect to progressively unwind losses,” adding that the pace of improvement would depend on the rise in average order value and the level of market competition.

In a recent note, Motilal Oswal said the company’s“The path to breakeven appears increasingly achievable” given the slowdown in competitive intensity and a pause in new dark store expansion. The brokerage expects gradual improvement in margins and profitability as the market stabilises.

Swiggy is likely to report a 23 percent sequential growth in gross order value for the Instamart segment, supported by an 8 percent increase in average order value. The brokerage also anticipates order volumes to rise 15 percent quarter-on-quarter, driven by a growing base of monthly transacting users.

Meanwhile, Motilal Oswal, ICICI Securities, and Anand Rathi project Instamart’s adjusted EBITDA margin loss to narrow to between 12.7 percent and 13.8 percent, compared to the previous quarter’s negative 15.8 percent.

Swiggy’s stock has seen mixed momentum in recent weeks. The shares have fallen over 2.5 percent in the last five days and around 2 percent in the past month. However, the stock remains up more than 31 percent over the past six months. It made its market debut last November, listing at Rs 420 per share, a 7.69 percent premium to its IPO price. The stock currently trades 1.5 percent below its listing price but remains over 6 percent higher than its IPO level.

Ahead of Swiggy’s quarterly results, shares of its quick commerce and food delivery rival Eternal also declined about 1 percent, though the stock has gained nearly 41 percent over the past six months.

The upcoming earnings are expected to provide a clearer view of Swiggy’s progress toward profitability, especially as India’s quick commerce and food delivery sectors continue to expand their share within the broader hospitality and retail ecosystem.