Swiggy's ongoing IPO brings it head-to-head with market leader Zomato.
Zomato’s FY24 performance — with ₹12,114 crore in revenue and first-time profits — outshines that of Swiggy, which remains loss-making despite the latter’s revenue growth.
Moreover, brokerages indicate that Zomato is outperforming Swiggy in multiple areas beyond just revenue. According to Motilal Oswal, Zomato surpasses Swiggy in gross order value, profitability and market share.
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Elara Capital pointed out that Swiggy's quick commerce service, Instamart, trails behind Blinkit in several key metrics, including revenue growth and take rates. The analysis suggests Zomato is solidly positioned against Swiggy across various performance indicators ahead of its anticipated market debut.
Here is a breakdown of the revenue sources for both companies
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