Growth Vs Profitability: Swiggy’s Tug-Of-War

Swiggy’s results for the second quarter (Q2) of the financial year 2026-27 (FY27) show that the tug of war between growth and profitability is intensifying, as Instamart’s mounting losses threaten to overshadow the improving performance of its food-delivery business. On October 23, 2026, the company’s shares fell around 15% to ₹179.90 on the BSE, wiping out roughly ₹9,000 Cr in market capitalisation in a single session. The sell-off came after Swiggy reported its results, with widening losses at