Swiggy narrows loss in Q2; eMudhra cofounder on what went wrong
Happy Friday! Swiggy reported a rise in revenue in Q2 FY27 while cutting its losses. This and more in today’s ETtech Morning Dispatch.
Swiggy reported a 36% year-over-year increase in operating revenue to Rs 7,571 crore for Q2 FY27, while its net loss narrowed by 16% to Rs 922 crore. CEO Sriharsha Majety acknowledged the eMudhra incident involving exposed keys to AI but maintained the company's focus on building a stable, resilient business. eMudhra cofounder Kaushik Srinivasan defended the incident, stating it was just a bad day and could happen to anyone.
The security breach involved eight intermediate digital certificates under eMudhra's global Public Key Infrastructure (PKI) and was discovered after a researcher reported it to Google and other technology companies. In response, eMudhra decided to voluntarily withdraw from the global SSL/TLS certificate business.
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