Swiggy recovers some lost ground in food delivery from Zomato in Q4FY25

Its contribution margin, as a percentage of GOV, increased to 7.8 percent in Q4FY25 from 7.4 percent in Q3FY25. It was at 6.7 percent in Q4FY24.

Bengaluru-based Swiggy has recovered some lost ground and increased its market share by one percentage point, based on its gross order value (GOV), at the cost of Gurugram-headquartered Zomato, as per its latest quarterly financials.

With a GOV of Rs 7,347 crore in Q4FY25, Swiggy now has a market share of 43 percent and Zomato with a GOV of Rs 9,778 crore was ahead with a market share of 57 percent.

The market share, around a quarter ago, was at 42 percent for Swiggy and 58 percent for Zomato. The latter has now been the market leader for around two years now, though.

Swiggy also improved margins in food delivery. Its contribution margin, as a percentage of GOV, increased to 7.8 percent in Q4FY25 from 7.4 percent in Q3FY25. It was at 6.7 percent in Q4FY24.

The business unit's adjusted EBITDA margins went up to 2.9 percent in Q4FY25, from 0.5 percent in Q4FY24.

“Our Food delivery engine delivered best-ever results across innovation and execution, driving category-leading growth and rising profitability in lockstep," said Swiggy Group CEO & MD Sriharsha Majety.

Swiggy vs Zomato

While food delivery grew, Swiggy also invested heavily in quick commerce which dragged its results.

Swiggy reported a net loss of Rs 1,081.18 crore for the fourth quarter of financial year 2025. This marks a rise of over 94 percent from the Rs 554.77 crore net loss reported in Q4 FY24.

Swiggy’s revenue from operations rose 45 percent YoY to Rs 4,410 crore in Q4, up from Rs 3,046 crore a year ago. It had reported a revenue of Rs 3,993 crore in the previous quarter.

Swiggy's loss for the full financial year came in at Rs 3,117 crore, up 33 percent compared to Rs 2,350 crore in the previous fiscal. For the full year (FY25), the company reported a consolidated operational revenue of Rs 15,227 crore, up 35 percent from Rs 11,247 crore in FY24.

Meanwhile, its chief rival Zomato posted a 78 percent YoY decline in profit after tax (PAT) at Rs 39 crore during the March quarter. For the full year, Zomato’s profits increased 50 percent YoY to Rs 527 crore.

And Zomato saw its revenue rise 64 percent YoY to Rs 5,833 crore in Q4, and a full-year revenue growth of 67 percent to Rs 20,243 crore.