Speed, Spice, and Stock Market Sizzle: Inside the Swiggy vs Zomato Rivalry

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India’s quick delivery landscape is heating up as Swiggy and Zomato (now Eternal Limited) go head-to-head in a battle for market dominance, innovation, and profitability. Their FY25 results reveal a high-octane rivalry, with each company doubling down on speed, scale, and customer experience in both food delivery and the booming quick commerce segment.

Key Highlights:

Revenue & Profit Showdown: Zomato’s parent Eternal posted a robust 64.5% revenue jump to ₹21,320 crore and a 50% rise in net profit to ₹527 crore, outpacing Swiggy’s 34.3% revenue growth to ₹15,623 crore. However, Swiggy’s net loss widened by 32.6% to ₹3,117 crore, highlighting the cost of aggressive expansion.
Quick Commerce Surge: Both companies reported triple-digit growth in their quick delivery arms. Zomato’s Blinkit revenue soared 126.2%, while Swiggy’s Instamart climbed 117.6%. Blinkit now leads with 1,301 dark stores, compared to Instamart’s 1,021, giving Zomato a logistical edge.
Market Share Dynamics: Swiggy regained ground in Q4 FY25, now holding 43% of the food delivery market versus Zomato’s 57%. Swiggy also improved its food delivery contribution margin, signaling better operational efficiency.
Ultra-Fast Delivery Push: Zomato has re-entered the 15-minute food delivery race in Mumbai and Bengaluru, while Swiggy and Zepto compete fiercely in the 10–15 minute grocery space, raising the bar for speed and convenience.
Stock & Strategy: Both stocks have seen corrections, but analysts remain optimistic as consumer spending rebounds. Swiggy’s Maxxsaver and Zomato’s rebranding to Eternal reflect ongoing innovation and customer-centric strategies.

With quick commerce fueling record growth and both giants racing to outdo each other, India’s delivery kitchens are set for an even more exciting showdown.

Sources: indmoney.com, The Hindu BusinessLine, NDTV Profit, Financial Express, Moneycontrol