Zepto's Ad Business Grows Twice as Fast as Delivery, Reshaping Unit Economics

Zepto's advertising revenue jumped 151% year-over-year to ₹1,636 crore in FY26, outpacing its core delivery business at 104% growth. The gap matters: ad revenue carries far better profit margins than thin-margin grocery delivery. Ahead of its June 2026 IPO filing, this shift signals the platform is tilting toward higher-margin income streams to improve overall profitability without requiring further logistics optimization.