IndMoney's review of FY25 results shows Zomato reporting a net profit while Swiggy's losses grew, and Motilal Oswal puts Zomato ahead on monthly active users, revenue and profitability. For restaurants, Restaurant India advises choosing on onboarding, visibility tools, commission and delivery reliability, and for most operators the real question is how to split effort across both apps.
Zomato made a profit in FY25; Swiggy's losses grew
The two companies' finances have moved apart. According to IndMoney's analysis of the FY25 numbers, Zomato ended the year in net profit while Swiggy's losses got bigger, even though both grew revenue strongly.
Motilal Oswal comes at the question from another direction and lands in much the same place. It puts Zomato ahead of Swiggy on monthly active users, revenue and profitability for now, and finds Blinkit ahead of Instamart in quick commerce. Kotak Neo, writing for investors, compares market capitalisation, margins and the pace of revenue growth, and reaches a similar verdict.
The two-app market may not stay that way
Business Today reported that Flipkart plans to move into food delivery, which would put pressure on the duopoly Zomato and Swiggy hold in Indian cities. Any comparison made today could look quite different within a year or two.
Pressure is also coming from restaurants themselves. YourStory's coverage of the fight between the platforms and restaurants describes rising frustration among owners with how both apps handle commission and discounts. It also notes that ONDC and Rapido are increasingly being put forward as a way to relieve that pressure, no longer as fringe experiments.
How to decide where to list
Restaurant India's guide for operators says the choice should come from weighing four things against each other, rather than from brand reputation alone:
- How onboarding works on each app
- The visibility tools each one offers
- How the commission is structured
- How reliable delivery is
Looking at the latest order volumes and market share, Brineweb concludes that Zomato has the edge across India, though Swiggy holds its ground in certain metros. That means the answer to which app is better can depend on the city you trade in.
What this means for your restaurant
- Treat it as a split rather than a pick: decide how much marketing spend, stock availability and staff attention each platform gets.
- Base that split on which app is actually converting for your category in your city, since national share and metro strength can point in different directions.
- Compare onboarding, visibility tools, commission and delivery reliability on each app, as Restaurant India suggests, rather than going by brand name alone.
- Keep watching new options such as Flipkart, ONDC and Rapido, because the two-player picture may not last.
Sources
- Swiggy vs Zomato FY25 Results: Revenue, Profit, Quick Commerce & More — IndMoney
- Swiggy vs Zomato: The Battle for India's Food & Grocery Crown — Motilal Oswal
- Swiggy vs Zomato: Comparing Market Share, Financial Performance & Growth — Kotak Neo
- Zomato, Swiggy and now Flipkart: India's food delivery war just got a powerful new player — Business Today
- In the Zomato, Swiggy vs restaurants war, it's a fight to ... — YourStory
- Zomato vs Swiggy: Which Platform Is Better for Restaurants in 2026? — Restaurant India
- Swiggy vs Zomato: Who Is Winning India's Food Delivery War in 2026? — Brineweb
This article summarises the reporting and guides listed above; the figures belong to those sources and are attributed in the text. Check anything that affects your business against your own platform agreements, payout statements and advisers.