RetailProfitability concerns and intensive competition stunt investor enthusiasmZepto's losses soared 25% year on year to 59 billion rupees ($620 million) in the fiscal year ending March. (Photo by Yuki Kohara)SAYAN CHAKRABORTYAugust 7, 2026 10:47 JSTBENGALURU -- When India's commerce minister publicly rued the dearth of cutting-edge innovation by homegrown startups at an event last year, chiding them for choosing to make ice cream over semiconductors, a co-founder of quick commerce company Zepto hit back.