Stocks: India’s Internet Giants Explode With 45% YoY Growth

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With all 21 companies posting results, the digital economy shows unstoppable momentum—led by Eternal, Swiggy, PB Fintech and the Pay ecosystem.

By S JHA

Mumbai, November 20, 2025 — India’s digital economy is surging forward, with the Nifty India Internet Index posting a stellar quarterly performance for the quarter ending September 2025.

According to StockEdge, the index reported combined sales of ₹41,390 crore, marking 21.2% QoQ and 45.2% YoY growth—cementing the sector as one of the strongest structural stories in India’s markets.

All 21 companies in the index have released their results, and the momentum is clear across categories.

Among the standout performers, Eternal Ltd. delivered a remarkable 89.6% QoQ surge and nearly 3x YoY expansion, emerging as the quarter’s biggest growth driver. Swiggy Ltd. posted a robust 12.1% QoQ and 54.4% YoY rise, powered by platform expansion and category diversification.

PB Fintech Ltd. (PolicyBazaar) continued its steady climb with a 38.2% YoY increase as digital insurance adoption deepens nationwide. Meanwhile, One97 Communications, anchoring the broader Pay ecosystem, showed a strong 24.2% YoY recovery—signalling stabilisation in fintech services after recent volatility.

Analysts say this is not just growth—it’s compounding. With e-commerce, fintech, food-tech, classifieds, and online services all firing simultaneously, India’s internet economy is transforming into a multi-sector powerhouse.

(Disclaimer: This article makes no recommendation for buy or sell of shares of any company)