Swiggy

Swiggy's Instamart pivot proves its food delivery arm loses $0.62 per order, the worst margin on this list. The shift away from restaurant delivery acknowledges a 22% operating loss on food orders, compared to #9 Gopuff's 18% loss on convenience items. Swiggy's delivery fees average 30% higher than Zomato, its primary Indian rival, while menu prices are marked up 15–20% versus dine-in. With a 38-minute average delivery time and a 12% order cancellation rate, the service consistently fails to justify its costs. Data shows 60% of Instamart orders are for non-food essentials, exposing the weakness of its core food offering.