Swiggy vs Zomato
Business model, scale, and a side-by-side Litmus framework score — which model wins, and for whom.
Zomato (Eternal) is profitable and ahead in quick commerce via Blinkit; Swiggy matches it in food delivery but is still funding its way to break-even.
At a glance
| Metric | Swiggy | Zomato |
|---|---|---|
| Revenue | ₹23,053Cr FY26 consolidated revenue (up 45% YoY from ₹15,227Cr in FY25; ~$2.6-2.7B annualized) | ₹20,243Cr (~$2.4B) FY2025, +67% YoY (parent: Eternal Ltd) |
| Profit | Net Loss of ₹4,154Cr (FY26, vs ₹3,117Cr in FY25, widened on Instamart burn) | ₹527Cr (FY2025 PAT, up from ₹351Cr) |
| Active users | 25.2M Platform MTUs (Q4 FY26, +27% YoY); food delivery 18.3M, Instamart 13.3M | ~22M+ Monthly Transacting Users |
| Employees | ~12,000 | ~10,000 |
| Founded | 2014 | 2008 |
| HQ | Bengaluru, India | Gurugram, India |
LLitmus Framework Score
Overall: Swiggy 89 · Zomato 92
Customer Segment
94
96
Value Proposition
92
94
Marketing Channel
90
95
Engagement
93
93
Income Source
87
89
Asset Validation
91
92
Core Operations
85
87
Strategic Alliance
88
91
Expense Validation
82
88
Swiggy leads 0 modules, Zomato leads 8. Overall edge: Zomato.
Head to head
| Dimension | Swiggy | Zomato |
|---|---|---|
| India food-delivery share | ~42% | ~58% |
| Profitability | Net loss ₹4,154 Cr (FY26) | Quarterly PAT positive all of FY26 (Q4 FY26 PAT ₹174 Cr, Eternal) |
| Quick commerce | Instamart (1,143+ dark stores) | Blinkit (now > food delivery) |
| Annual revenue | ₹23,053 Cr (~$2.6B, FY26) | Q4 FY26 revenue ₹17,292 Cr (Blinkit-driven; not directly comparable YoY due to revenue-recognition changes) |
| Public-market status | IPO Nov 2024 (~$11.3B) | IPO 2021; renamed Eternal 2025 |
FAQ
Is Swiggy or Zomato a better business?
Zomato (Eternal) is profitable and ahead in quick commerce via Blinkit; Swiggy matches it in food delivery but is still funding its way to break-even. It depends on what you optimise for — see the module-by-module breakdown above.
What is the difference between Swiggy and Zomato's business model?
Swiggy operates in Technology / Hyperlocal (Convenience delivered), while Zomato is Technology / Food-Tech (Better food for more people). Their revenue, scale and Litmus scores are compared in detail above.
Which is more profitable, Swiggy or Zomato?
Swiggy: Net Loss of ₹4,154Cr (FY26, vs ₹3,117Cr in FY25, widened on Instamart burn). Zomato: ₹527Cr (FY2025 PAT, up from ₹351Cr).