Swiggy’s food delivery business reaches profitability

India’s Swiggy said on Thursday that its marquee food delivery business has become profitable, eclipsing its publicly-listed rival Zomato on another key metric a day before the firm is set to report its quarterly earnings.
The Bengaluru-headquartered startup — which counts Prosus Ventures, SoftBank and Invesco among its backers — became profitable in March this year, it said. It is, however, not factoring in employee stock option costs in the expense, Swiggy said.
“This is a milestone for food delivery globally, not just for us, as Swiggy has become one of the very few

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