Zepto CEO Aadit Palicha has dismissed Zomato founder Deepinder Goyal’s claim that the quick commerce platform is burning Rs 2,500 crore every quarter, calling the statement “verifiably untrue.” Palicha stated that public filings of Zepto’s financial statements would disprove the assertion.
Responding to reports quoting Goyal’s remark that quick commerce firms were collectively burning Rs 5,000 crore per quarter, with Zepto accounting for more than half, Palicha took to LinkedIn to set the record straight.
“His words were that quick commerce was burning 5,000 crores per quarter, of which ‘substantially more than half of this is by Zepto’—implying that we are losing substantially more than 2,500 crores per quarter. This statement is verifiably untrue, and it will be clear when we publicly file our financial statements,” Palicha wrote.
Despite countering the claim, Palicha maintained that he believes Goyal had “only good intentions” and that his statement may have been taken out of context. He also acknowledged Goyal’s role as a mentor figure in the Indian startup ecosystem.
“I was five years old when Deepinder started Zomato. He has become a role model for the Indian startup ecosystem, and it’s a privilege to learn from and compete with Zomato,” he said.
Zepto, a Mumbai-based quick commerce startup, has been improving its financial performance. According to Palicha’s December 2024 update, the company’s profit after tax (PAT) as a percentage of revenue improved from -63% in FY23 to -28% in FY24, reflecting reduced absolute losses.
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