Swiggy's stock falls 11% after Zomato's poor quarterly performance raises concerns among investors. What this means for the future of the food delivery sector?
The stock dived 10.81 per cent to hit a low of Rs 427.20. At this price, it has corrected 30.76 per cent from its record-high level of Rs 617, seen on December 23 last year.
In Q3, Blinkit's GOV grew by 27.2% QoQ, maintaining a strong growth trajectory. However, profitability faced pressure, as EBITDAM dropped to -1.3% from -0.1% in Q2FY25, primarily due to accelerated ...