The Economic Times

Rs 9,000 crore wiped out in a day: Why Swiggy investors are losing patience with Instamart

Swiggy shares plunged on Friday, wiping out around 9,000 crore in market value as widening Instamart losses overshadowed food delivery growth. Following Q2 results, brokerages cut their price targets, citing deteriorating quick-commerce profitability. Instamarts adjusted EBITDA loss widened to 895 crore from 778 crore, while its contribution margin deteriorated to -1.4% despite 13.4% sequential growth in net order value.