Swiggy shares drop 14% to 52-week low after Rs 922 crore Q2 loss

Swiggy's shares fell 14 per cent and hit a 52-week low after the company reported a Rs 922 crore loss for the quarter. Revenue from operations still rose 36 per cent year-on-year to Rs 7,571 crore. Adjusted EBITDA loss widened, and analysts including Jefferies, Nomura and Bernstein cut their target prices, citing challenges in quick commerce.

Source: ET Tech ↗