The third quarter earnings season is underway and about 124 companies will announce their results on Tuesday. Key results to watch out include from Swiggy, Info Edge and Reliance Power.Apart from the above, companies like Zydu's Lifesciences, Sula Vineyards, Sagility India, Innova Captab, CMS Info Systems, AGI Infra, Arunis Adobe, Asia Capital, Zinka Logistics, CCL Products, Abbott india and a few others will also declare their quarter results.Swiggy Q3 expectationsFood delivery and quick commerce major Swiggy is likely to see a sequential improvement in revenues in the third quarter even as losses are set to expand. The company will report its earnings on February 5.Brokerage JM Financial estimates that revenues will rise 12% quarter-on-quarter (QoQ) to Rs 4,035 crore and the loss is likely to stretch to Rs 708 crore. Swiggy had reported a revenue of Rs 3,601 crore and a loss of Rs 623 crore.The reported core numbers are not available for the third quarter of previous and hence the comparison is only made on a sequential basis.Motilal Oswal pegged the losses during the December quarter at around Rs 700 crore as it expects the company to report revenues of Rs 3,891 crore.For the food delivery business, the gross order value (GOV) is likely to achieve 19% YoY growth rate with a take rate of 22%. The segment's adjusted EBITDA margins, as a percentage of GOV, is expected to improve 20 bp QoQ to 1.8%."In food delivery, we forecast sequential GOV growth of 3.5% (19% YoY). We see MTUs (monthly transacting users) growing to 15.2 million versus 14.7 million in the preceding quarter, whereas AOV’s can grow 1% QoQ," said JM Financial.In Instamart, analysts are expecting sequential GOV growth of 18% led by robust increase of 13% in order volumes, which in turn should be driven by MTU increase."Take-rates can improve to 14.9% from 14.5% in the second quarter," JM Financial said as it sees contribution margin contracting to -3.6%. This is mainly due to aggressive dark store expansion along with the impact of a high competitive landscape.The quick commerce business is projected to report a -10% adjusted EBITDA margin in the third quarter.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)