Swiggy Stock Gains 3% as Q2 Revenue Rises, Losses Narrow

Swiggy, one of India's leading food delivery platforms, saw its stock surge by 3% following the announcement of its Q2 financial results, which showed a strong increase in revenue and a significant reduction in losses.

For the quarter, Swiggy reported a substantial rise in revenue, driven by increased demand for food delivery services and a growing user base. The company also narrowed its losses, signaling progress in its path toward profitability.

The positive financial results reflect Swiggy's strategic efforts to expand its services, including grocery delivery and restaurant partnerships, which have helped diversify its revenue streams. Investors have responded favorably to the company's performance, with the stock's 3% jump reflecting confidence in its ability to continue improving its financial position.

This uptick in Swiggy’s performance comes amid an increasingly competitive food delivery market in India, with companies vying for market share in the fast-growing sector.