Swiggy vs. Zomato: Who’s Winning in 2024?

Sriharsha Majety’s Swiggy and Deepinder Goyal’s Zomato, India’s two biggest food delivery giants, are in a fierce battle for market dominance. Swiggy’s financial results for FY24 show a 36% revenue jump to ₹11,247 crore while cutting losses by 44% to ₹2,350 crore. However, Zomato’s FY24 revenue stands higher at ₹12,114 crore, making a ₹351 crore profit. Despite Swiggy’s claims of food delivery profitability, their Gross Order Value (GOV) of ₹24,700 crore falls behind Zomato’s ₹32,224 crore. Zomato leads the market with a 57% share, while Swiggy holds 43%. Even in quick commerce, Swiggy’s Instamart grew 58% but still trails Zomato’s Blinkit in GOV. Can Swiggy close the gap and surpass Zomato? Let us know your thoughts!