Swiggy Sets Date for Q2 Financial Results Announcement

Swiggy , the popular food delivery platform, is gearing up to reveal its financial performance for the second quarter of the fiscal year. The company has scheduled a board meeting on October 30 to approve the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30.

Key Highlights

Board Meeting Date: October 30
Earnings Call: Scheduled for 5 p.m. on the same day
Results Coverage: Q2 and H1 FY2024 (ended September 30)

Previous Quarter Performance

To provide context for the upcoming results, let's take a look at Swiggy's performance in the previous quarter:

Metric	Q1 FY2024	Q1 FY2023	YoY Change
Consolidated Net Loss	₹1,197.00 crore	₹611.00 crore	95.90% increase
Total Income	₹5,048.00 crore	N/A	52.50% increase
Total Expenses	₹6,244.00 crore	N/A	~60% increase

Recent Stock Performance

Swiggy's stock has shown mixed performance across different time frames:

Time Period	Stock Movement
Past 5 trading sessions	-0.85%
Year-to-date	-21.69%
Past 6 months	32.78%

As of Wednesday morning, Swiggy's stock was trading at ₹424.70, up 0.62% from the previous close.

Investors and analysts will be watching Swiggy's Q2 results to gauge the company's financial health and growth trajectory. The scheduled earnings call is expected to provide further insights into the company's performance and future strategies.

As the food delivery and quick commerce sectors continue to evolve, Swiggy's financial results will be closely scrutinized for indicators of market trends and the company's competitive positioning.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.33%	-0.85%	+1.01%	+31.53%	-7.74%	-7.74%

India's festive season has brought a significant boost to food delivery platforms Swiggy and magicpin, with both reporting substantial increases in orders. The surge in demand highlights changing consumer behaviors and preferences during this celebratory period.

Swiggy's Festive Performance

Swiggy anticipates doubling its food delivery numbers compared to last year's festive season. Key highlights include:

Leading Cities: Mumbai, Bengaluru, and Kolkata are at the forefront of this surge.
Emerging Markets: Surat, Thiruvananthapuram, and Vadodara are showing promising growth.
Popular Dessert: Choco lava cakes have emerged as the top dessert choice across metro cities.
Kolkata's Favorite: The city maintains its strong demand for biryani.

Magicpin's Order Trends

Magicpin, another player in the food delivery space, has also witnessed notable changes in order patterns:

Period	Order Trend
During Navratri	40% surge in vegetarian and thali orders
Post-Dussehra	Rebound in both vegetarian and non-vegetarian cuisine demand
After Navratri	2.5x increase in bulk and party food delivery orders
October 10	30% jump in orders compared to regular days

The data from both platforms indicates a strong correlation between festive celebrations and food delivery preferences. While Swiggy sees a broader nationwide trend, Magicpin's data provides insights into the impact of specific festivals on food ordering habits.

This surge in food delivery orders during the festive season not only reflects the changing dynamics of celebration in urban India but also highlights the growing importance of convenience in modern lifestyles. As food delivery platforms continue to adapt to these seasonal fluctuations, it will be interesting to see how they innovate to meet the evolving demands of consumers during festive periods.