Swiggy CEO says food-delivery biz turned profitable in March, Zomato’s Deepinder Goyal tweets ‘nicely done’

Swiggy cofounder and CEO Sriharsha Majety on Thursday said that the company’s food-delivery business has turned profitable for the first time in March since its launch in 2014.

“As of March 2023, Swiggy’s food delivery business has turned profitable (after factoring in all corporate costs; excluding employee stock option costs),”Majety said in a blog post.

“This is a milestone for food delivery globally, not just for us, as Swiggy has become one of the very few global food delivery platforms to achieve profitability in less than nine years since its inception.”