Slice of success: Have Zomato, Swiggy finally figured out the right recipe?

Zomato reported its first-ever profit of Rs 2 crore in Q1 FY24

Something is cooking in on­line food delivery. After 15 years of grappling with the demands of the business — read cash burn — Guru­g­ram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it re­po­rted a profit in the following quarter as well: Of Rs 36 crore in the second qu­arter co­mpared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.

Zomato’s unlisted rival, Bengaluru-based Swiggy, said it had turned its food delivery business profitable in the March quarter, after