Zepto CEO Challenges Zomato's Financial Claims

Zepto CEO Aadit Palicha has refuted claims by Zomato founder Deepinder Goyal that Zepto is burning Rs 2,500 crore quarterly. Palicha emphasized the company's improving financial performance and commitment to India's startup ecosystem, noting that detailed financials will soon disprove such claims.

Zepto CEO Aadit Palicha has raised objections against comments made by Zomato founder Deepinder Goyal, claiming Zepto incurs a quarterly loss of Rs 2,500 crore. Palicha argued that future public financial disclosures will demonstrate the inaccuracy of such statements.

Using LinkedIn as a platform to address these assertions, Palicha stressed his desire to foster a collaborative startup ecosystem focused on producing top-tier products for India. He acknowledged the role of Goyal as a significant figure in the industry but clarified that the financial figures cited were misleading.

Highlighting Zepto's financial progress, Palicha noted that the Mumbai-based company's losses have significantly decreased, with profit margins showing marked improvement from FY23 to FY24. He reiterated respect for Goyal's achievements while dispelling inaccuracies about Zepto's financial state.

(With inputs from agencies.)