New Delhi, April 22 -- Bengaluru: Growth in food delivery margins for Eternal (formerly Zomato Ltd) and Swiggy is likely to have remained steady on a quarter-on-quarter basis in the fourth quarter of FY25 as signs of slowdown in the overall food delivery segment continued, analysts toldMint.

"Margins would have been flat in Q4 on a q-o-q [quarter on quarter] basis as it already saw sharp improvement in the previous quarter. We don't expect a similar massive improvement in margins in the near term," said Karan Taurani, analyst at Elara Capital. Swiggy is likely to see a sharper rise in margins than Zomato, according to Taurani.

Contribution margin is a key metric for profitability. Zomato's adjusted earnings before interest, taxes, depre...