Swiggy Shares Drop After Q1 Results, Brokers Split Opinions

Swiggy is a food delivery company in India.

On July 31, 2023, its shares fell more than 5% after the company announced its first quarter results.

The company made a smaller loss than last year and earned more money, but it still lost money overall.

Some brokers think the company will grow and recommend buying the stock, while others think it will keep losing money and recommend selling it.

The difference in opinions comes from how well the company’s new grocery service, Instamart, is doing and how fast it can become profitable.