Swiggy’s pre-IPO motto: execute, don’t ideate

November 21, 2023 | The Ken 

“They [Swiggy and Zomato] also can increase delivery costs by, say, Rs 10-15, which will be a big push to profitability. Customers might dissent, but there aren’t many alternatives in a duopoly.” says Ashi Anand, CIO of Valcreate IME Strategies.

With shares of Zomato trading at an all-time low in January, few would have bet on the foodtech giant pulling off a nearly 3X leap in value before the year ended. But public investors do reward profitability, after all.