![](https://inc42.com/cdn-cgi/image/quality=75/https://asset.inc42.com/2025/01/swiggy-Pyng-featured-760x570.jpeg)
The foodtech giant’s market capitalisation dropped to INR 88,552 Cr
Nearly 52 Lakh shares of Swiggy traded hands by 11:00 AM
The stock recovered slightly and was trading at INR 395.30 apiece at the time of writing
Shares of foodtech major Swiggy
With a dip in its share price, the foodtech giant’s market capitalisation dropped to INR 88,552 Cr with nearly 52 Lakh shares traded hands by 11:00 AM.
On a year-to-date (YTD) basis, the stock has plunged over 26.64% and nearly 6.6% in the past five days. The company’s shares ended in red in five out of the last seven sessions.
However, the stock recovered slightly at the time of writing and was trading at INR 395.30 apiece.
The company has been on a launching spree for quite some time. In its attempt to foray into new segments, Swiggy recently received the approval from the corporate affairs ministry (MCA) to incorporate its sports arm, Swiggy Sports Private Limited.
Earlier this month, it rolled out its new ‘SNACC’ app, which offers 15-minute food delivery service in select parts of Bengaluru.
Further, Swiggy also forayed into the services marketplace segment with the launch of a new app, Pyng Professional.
In December, the company launched a new service called ‘Swiggy Scenes’ to enable users to book parties and events at Swiggy’s partner restaurants. Prior to that, Swiggy also debuted its new premium invite-only membership programme, ‘One BLCK’.
On the financial front, Swiggy expects its business to achieve adjusted EBITDA profitability on a consolidated level in the third quarter of the financial year 2025-26 (FY26).
The foodtech giant narrowed its net loss by nearly 5% year-on-year (YoY) to INR 625.53 Cr in the second quarter (Q2) of the financial year 2024-25 (FY25). Meanwhile, operating revenue zoomed 30% YoY to INR 3,601.45 Cr during the quarter.