Swiggy Q2 Results: Food Delivery Firm To Report First Earnings After Listing On Dec. 3

Swiggy Ltd. will post its first earnings after stock market debut on Dec. 3, according to an exchange filing on Tuesday. The food delivery aggregator will declare the results for the quarter ended September.

"...the board of directors of the company is scheduled to be held on Tuesday, Dec. 3, 2024 to inter-alia consider and approve the unaudited financial results (standalone and consolidated) for the quarter and half year ended Sept. 30, 2024," the filing stated.

The announcement comes days after Swiggy got listed on the National Stock Exchange and the BSE—following a Rs 11,327-crore initial public offering.

Swiggy made its market debut on Nov. 13, after the IPO that was subscribed 3.6 times. The shares were listed at Rs 420 apiece on the NSE, up 7.69% as compared to the upper end of the IPO price band of Rs 390. Since its listing, Swiggy's stock has gained by nearly 10%.

Before making its market debut, Swiggy had reported a net loss of Rs 611 crore in the April-June period and a total income of Rs 3,310 crore. The comparable year-ago numbers were not shared in the pre-IPO documents.

In fiscal 2024, Swiggy's loss stood at Rs 2,313 crore on a topline of Rs 11,247 crore. The loss was narrower as compared to Rs 4,170 crore in fiscal 2023, when the revenue logged by the company stood at Rs 8,265 crore.

Shares of Swiggy on Tuesday soared in the aftermath of UBS initiating coverage on the stock with a 'buy' rating. The scrip closed 7.24% higher at Rs 461.9 apiece on the NSE, compared to a 0.11% decline in the benchmark Nifty 50.

Among the analysts tracked by Bloomberg, four have a 'buy' rating on the stock, whereas one each recommend a 'hold' and 'sell'.