Zomato, Meesho profits: Are they sustainable?

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Earlier this week, Zomato reported that for the first time in its 15-year history, its consolidated business is EBITDA and PAT positive—in other words, profitable. A few days later, social commerce platform Meesho said that it had been profitable across divisions and categories at a profit after tax level too, in July. What do these seemingly small news items indicate? We asked Ninad Karpe, founder and partner at 100x.VC, and Abhishek Goyal, co-founder at Tracxn, to paint for us the big picture