Swiggy shares fall to record low after announcing business results

Swiggy shares plunged over 17% on Friday to hit a 52-week low of ₹174.90 after it announced its second quarter results. Revenue from operations stood at ₹7,571 crore, while its pre-tax loss widened 16.56% quarter-on-quarter to ₹922 crore. Brokerages gave mixed reactions, flagging mounting losses in quick-commerce business Instamart despite early signs of a recovery in growth.