Mumbai/IBNS, July 31 -- Shares of Swiggy Ltd. fell more than 4 percent in early trade on Friday despite the food delivery and quick-commerce platform reporting a narrower net loss and strong revenue growth for the June quarter, media reports said.

The stock declined as much as 4.28 percent to Rs. 283.25 apiece during the session.

Revenue from operations rose 37 percent year-on-year to Rs. 6,812 crore, surpassing analysts' expectations.

Swiggy's quick-commerce business, Instamart, showed further improvement in profitability during the quarter.

Its contribution margin improved to -0.2 percent of gross order value (GOV) from -1.8 percent in the previous quarter.

Despite the stronger financial performance, investors appeared cautious ami...