Zepto cuts cost per order, but profitability remains elusive

Zepto’s cost of fulfilling each order fell by nearly a third in FY26 as higher throughput across its dark-store network improved operating efficiency, but the quick-commerce firm remains some distance away from profitability, according to disclosures in its IPO filing.

The company’s all-in cost per order, which includes supply-chain, marketing, technology and corporate costs, declined to Rs 150.71 in FY26 from Rs 185.11 a year earlier and further to Rs 127.79 in the quarter ended March 2026. The improvement came as order volumes per dark store increased and customer acquisition costs fell sharply.