'Verifiably untrue': Zepto's Aadit Palicha refutes Deepinder Goyal's claim of losing ₹2,500 crore per quarter

Zepto chief executive officer (CEO) Aadit Palicha, on Tuesday, March 4, called out Zomato CEO Deepinder Goyal over claims that the quick commerce giant is losing ₹2,500 crore per quarter. Palicha took to LinkedIn and refuted Goyal's statement published earlier in a news report that quick commerce is burning ₹5,000 crore per quarter, substantially 'more than half of that by Zepto'. Palicha clarified that, as per Zomato CEO Deepinder Goyal's statement, Zepto is losing ₹2,500 crore per quarter, which is untrue.

"In an Economic Times article today, Deepinder Goyal - whom I deeply respect as an entrepreneur - made an inaccurate statement about Zepto. His words were that Quick Commerce was burning 5,000 crore per quarter, of which "substantially more than half of this is by Zepto" - implying that we are losing more than 2,500 crore per quarter," said Palicha in a post on LinkedIn.

Also Read: Zepto to become profitable in FY26, hopeful for IPO plans next year: CEO Aadit Palicha

Zepto CEO Aadit Palicha corrects Deepinder Goyal on loss figures

Despite refuting Goyal's claims, Palicha emphasized that he ‘deeply respects’ the Zomato CEO as an entrepreneur. Pegging Goyal's statement as ‘verifiably untrue’, the Zepto chief said, “It will be clear when we publicly file our financial statements. However, I know Deepinder, and I know he has only good intentions; this quote could have been an honest mistake,” he adds.

The 22-year-old Zepto co-founder is one of India's youngest and wealthiest entrepreneurs. In his statement, Palicha acknowledged that he looks up to Goyal as a ‘role model’ for the Indian startup ecosystem. Palicha was only five years old when Deepinder Goyal started Zomato as a platform for restaurant reviews, which has now grown into India's leading food delivery giant.

Also Read: Zepto charges higher for customers with phones worth over ₹30,000, claims viral Reddit post

“Deepinder started Zomato when I was five years old, and he has become a role model for the Indian startup ecosystem. I have read all of his blogs, and it's a privilege to learn from and compete with Zomato,” said Palicha. “Our genuine intention is to build the Indian startup ecosystem together in good faith and build a world-class product for the Indian consumer,” he added.

Zepto IPO plans in 2025

In December, Zepto announced it is on a clear path to becoming a fully Indian-owned entity and hitting the profitability milestone in the next fiscal (FY26). This came after its latest $350 million-worth funding round from marquee domestic investors. Zepto co-founder Palicha was also optimistic about a possible initial public offering (IPO) in 2025.

In an interview with news agency PTI, Palicha strongly countered allegations that the quick commerce model is disrupting and stunting the growth of traditional Kirana stores. He asserted these "narratives" are not grounded in real data and underrate the industry's "net positives", including job creation.

The latest fundraising round was led exclusively by Motilal Oswal's Private Wealth division. Palicha said the round's purpose was to increase domestic ownership, with a goal of an IPO sometime in 2025. "We're optimistic that if the business continues to perform as well, we will go public in calendar 2025," the Zepto CEO told PTI. 

Also Read: Zepto’s cash burn crosses ₹250 crore a month on rising costs: Report