Swiggy and Zomato, two of India’s largest food delivery platforms, have released their Q3 FY 2025 financial results, providing key insights into their operational and financial strategies. As these companies navigate an evolving market, their performance metrics reveal the progress they’ve made in expanding services, improving profitability, and capturing customer loyalty. In this article, check the highlights of their Q3 FY 2025 financials to understand how each company is shaping its future in the competitive food delivery industry.
Zomato reported a 57% year-on-year (YoY) growth in Gross Order Value (GOV) for its business-to-consumer (B2C) segments, reaching ₹20,206 crore. Excluding the acquisition of Paytm’s entertainment ticketing business, like-for-like growth stood at 52% YoY. Breaking down the GOV growth:
Zomato’s B2B business, Hyperpure, also delivered a performance, with revenue growing by 95% YoY. The company’s consolidated adjusted revenue rose by 58% YoY to ₹5,746 crore, aligning with GOV growth.
On the profitability front, Zomato reported a 128% YoY growth in adjusted EBITDA to ₹285 crore, largely driven by improved food delivery margins. However, consolidated EBITDA saw a QoQ decline of 14%, attributed to increased investments in expanding its quick-commerce network.
Zomato’s quick-commerce subsidiary, Blinkit, crossed 1,000 stores a quarter ahead of schedule and is now targeting 2,000 stores by December 2025. Additionally, the launch of the District app in November 2024 marks Zomato’s effort to unify its going-out experiences, with over 6.5 million downloads recorded since its launch.
Swiggy recorded a 38% YoY growth in B2C GOV, reaching ₹12,165 crore, with its food delivery business contributing ₹7,436 crore, a 19.2% YoY increase.
The food delivery segment reported a significant improvement in adjusted EBITDA margins, rising to 2.5% of GOV, up from 0.3% a year ago. Swiggy added 2.4 million monthly transacting users (MTUs), driven by innovations like “Bolt,” a 10-minute restaurant delivery service that now accounts for 9% of food deliveries.
Swiggy Instamart, its quick-commerce arm, posted an 88% YoY growth in GOV, reaching ₹3,907 crore. The average order value increased by 14% YoY to ₹534, supported by expanded product selection and rising consumer demand.
The company added 96 new dark stores during the quarter, increasing its active dark-store area by 25% QoQ to 2.45 million sq. ft.
Despite these achievements, Swiggy’s investments in quick commerce led to a reduction in contribution margins from -1.9% in Q2 to -4.6% in Q3 FY25.
The Q3 FY 2025 financial results of Swiggy and Zomato highlight their dynamic approaches to growth and profitability in India’s competitive food delivery market. Zomato’s expansion across its B2C and quick-commerce segments, coupled with strategic innovations like the Blinkit network and the District app, signals its intent to capture diverse consumer needs.
Swiggy’s steady rise in food delivery volumes, innovative offerings like Bolt, and expansion of Instamart demonstrate its focus on operational efficiency and customer-centric solutions. As both platforms continue to refine their strategies, the competition will likely drive greater innovation, improved customer experiences, and a broader impact on India’s digital economy.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 7, 2025, 3:31 PM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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