Zomato Outpaces Swiggy in July, Gains Market Share

• Zomato grew faster than Swiggy in July, with a 29% YoY increase compared to Swiggy's 11%, according to UBS analysts.
• Zomato's MoM order growth was 1.6%, while Swiggy saw a 4.6% decline, leading to increased market share for Zomato.
• Zomato's market share in India's food delivery sector is estimated at 55%, while Swiggy's has slipped to 45%.
• Zomato has reported five consecutive quarters of net profits, whereas Swiggy logged an operating loss of over Rs 1,000 crore in the first nine months of FY24.
• Swiggy CEO Sriharsha Majety acknowledged the pros and cons of having a listed competitor like Zomato, noting the constant comparisons but also the benefits of market awareness.

Source: Moneycontrol