Zomato may continue to dominate food delivery biz, Swiggy will need to execute better, says Elara Capital

While the IPO of Swiggy has been already cleared by the Securities and Exchange Board of India (SEBI) and the company targeting an IPO launch in November, Elara Capital said that Zomato may continue to dominate the food delivery business in terms of growth and profitability. Rightly so with the total income reported by Zomato during FY24 at Rs 12,961 crore and profit at Rs 351 crore, and Swiggy posting a total income of Rs 11,634 crore and a loss of Rs 2350 crore during the same period.