10 Crucial Points in Our Swiggy vs Zomato Review

2. Financial Footing and Valuation

On headline financials, Zomato shows a stronger public-market valuation, estimated at about $19–21 billion, while Swiggy sits around $10–11 billion in pre-IPO valuations reported by analysts. Revenue figures for FY24 also favor Zomato — roughly ₹12,114 crore versus Swiggy’s ₹8,625 crore. That revenue gap helps explain why Zomato reported a profit of around ₹351 crore for FY24, while Swiggy reported a loss figure in recent quarters (about ₹1,092 crore as noted in analyst summaries). Cash reserves differ too: Zomato’s reported holdings are substantially larger than Swiggy’s, which gives Zomato more runway for marketing and strategic investments. These numbers matter beyond headlines because they influence how aggressively each company can discount, expand quick commerce, and invest in tech. For consumers, deeper pockets can mean longer periods of offers. For investors and restaurant partners, profitability and cash on hand are signals about long-term stability and negotiating posture.