Swiggy's Dig At Zepto? CEO Says Private Rivals' Data Is Selective
The Swiggy chief executive suggested that only data provided by listed players, like itself and rival Zomato, could be considered as reliable.
To see who's leading India's quick-commerce market, it's best to not focus on "selective numbers thrown about by private competitors", according to Swiggy's Food Marketplace CEO Rohit Kapoor.
Instead, it's better to rely on listed players like Zomato Ltd. and Swiggy Ltd. for reliable data, he suggested. In a conversation with NDTV Profit after the company reported its first-ever quarterly earnings post listing, Kapoor said market share figures are "not publically available".
"In terms of any share claims of numbers, we'd rather rely largely on the listed players — Blinkit, which gets reported under Zomato and us, rather than focus too much on selective numbers thrown about by private competitors who probably don't have the same bar on reporting and information provision that some of us need to provide," he said.
While Kapoor didn't name any company, his comments are most likely in reference to Zepto, which is a major, still-private quick commerce player in India.
Kapoor added that Group CEO Sriharsha Majety has also made a point that private competitors which are large enough should be also looked upon in terms of information disclosure in a certain way.
Swiggy's loss widened to Rs 626 crore in the September quarter of the current fiscal versus a loss of Rs 611 crore in the June quarter.
Food delivery business saw a sequential growth of 4%, while out-of-home consumption logged a growth of 28%. Quick commerce grew 31%, and supply-chain and distribution grew 14%, according to an exchange filing on Tuesday.
