Bengaluru, May 11 -- For BigBasket co-founder Vipul Parekh, profitability matters more than market share, even as competition intensifies in quick commerce.

"It is very easy to have market share and never make money," he told Mint in an interview. The Tata group-backed company is willing to "surrender market share" if required to improve profitability, he said, adding: "It is not important to be in the top three, four or five. It is important to be profitable."

However, the comments show a change in the online grocery platform's approach after it failed to achieve its target of seizing market share from new-age rivals such as Blinkit, Zepto, and Swiggy Instamart.

About a year ago, its employees had received an email from co-founder and...