BUSINESS

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BUSINESS

Swiggy becomes profitable before Zomato

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Profitability achieved

Swiggy's food delivery business turned profitable in the March quarter after a long quest for profitability. It was announced by CEO Sriharsha Majety.

2

Swiggy overtakes Zomato

Swiggy achieved profitability in less than nine years, surpassing rival Zomato in the food delivery business. The company did not calculate ESOP.

3

Cost-cutting

On its road to profitability, Swiggy's focus has been on cutting costs. The company laid off 380 employees earlier this year.

4

Cash burn

Swiggy's monthly cash burn has reduced to Rs. 165.15 crore due to cost-cutting measures, including selling Swiggy Access to Kitchens@.

5

Customer retention

Swiggy's focus on customer retention and expansion in non-major cities helped the company become profitable, according to the CEO.