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Swiggy, Zomato dine-out paths diverge amid revival
Mint Hyderabad
|November 03, 2025
Swiggy chases profitability, while Zomato focuses on building scale to cash in on momentum
The dine-out economy is regaining momentum, with food-tech giants Swiggy and Eternal (Zomato) taking divergent paths to capitalize on the trend: Swiggy is chasing profitability, Eternal is building scale through a broader business mix.
Swiggy's latest numbers show its dine-out arm has turned profitable for the first time. The company reported a gross order value (GOV) of ₹1,118 crore for its dine-out arm in the second quarter of fiscal 2026, a 52% year-on-year (yo-y) increase from 1734 crore in the same quarter last year. Its adjusted Ebitda margin of +0.5% marks a small but symbolic operating profit of ₹6 crore, turning the corner after several loss-making quarters.
Eternal (Zomato), meanwhile, reports a net order value (NOV) for its 'District' business, which includes dining, events and retail. The vertical grew around 32% yo-y, but remains in the red with an Ebitda margin of -3.1% and a quarterly loss of ₹3 crore. Eternal's broader revenue base—₹89 crore in the second quarter of fiscal 2026 compared to Swiggy's ₹88 crore—reflects a wider business mix, but also heavier operational intensity.
This story is from the November 03, 2025 edition of Mint Hyderabad.
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