Swiggy’s revenue from operations grew 54% year-on-year to ₹5,561 crore, up from ₹3,601 crore a year earlier. However, total expenses rose nearly 56% to ₹6,711 crore, driven by higher costs in logistics, discounts, and platform expansion.

The Bengaluru-based firm had earlier posted a ₹1,197-crore loss in the June quarter. Despite the widening deficit, Swiggy’s growth in food delivery and its quick commerce arm, Instamart, continued to strengthen its market presence.

On Thursday, Swiggy’s shares closed 0.2% lower at ₹418 on the NSE. Over the past month, the stock slipped 1.17%, while it gained 32% in six months. However, on a year-to-date basis, it remains down 22.93%, reflecting market concerns over profitability.

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Despite lower sales, the company’s EBITDA grew 12% to ₹134 crore, with the operating margin improving to 28% from 23%. Sanofi attributed the growth to cost optimisation and a better product mix. The company continues to focus on diabetes and cardiovascular treatments as part of its restructuring in India.

Alongside the results, the board announced an interim dividend of ₹75 per share for FY25, with November 7 set as the record date. Sanofi India also named Deepak Arora as Managing Director for a three-year term starting October 27, succeeding Rachid Ayari.

Arora, with over 30 years of global pharma experience, will drive Sanofi’s strategic vision in India. Shares of Sanofi India closed nearly flat at ₹4,747 on Wednesday. The stock has risen 22% this year, even as the Nifty Pharma index declined 4.5%.

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Despite the cancellation, the analyst call will proceed as planned. Investors will receive detailed insights into TCS’s financial performance and management commentary during the call. The cancellation is not expected to affect investor relations significantly.

TCS’s Q2 results are closely watched amid the H-1B visa fee hike and global IT demand trends. Analysts will focus on recovery in discretionary spending, particularly from the US and Europe. Challenges in specialised staffing and cautious client expenditure will also be key discussion points.

Earlier, TCS announced layoffs of 12,200 employees, about 2 per cent of its 6.13 lakh-strong workforce. The company said the move is aimed at making TCS agile and future-ready. Severance packages, extended insurance, notice period pay, and placement support are being offered to affected employees.

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Other private lenders like Kotak Mahindra Bank and Axis Bank also recorded market cap losses. IndusInd Bank was the worst performer, losing 15.7 per cent and falling to the 14th position after reporting accounting lapses.

Public sector banks gained in the same period. SBI’s market cap rose 10 per cent. Canara Bank and Indian Bank gained 8.3 per cent and 16.7 per cent, respectively. Bank of Baroda and Punjab National Bank also reported moderate gains.

The government expects the economy to benefit from lower GST rates, festive demand, and normal rainfall. RBI raised GDP growth for FY26 to 6.8 per cent. Economists anticipate further rate cuts after two reductions in early 2025, supporting the banking sector.

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