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Source: Live Mint Zomato Ltd faced double trouble in the December quarter (Q3FY25) as its two main businesses – food delivery and quick commerce (Blinkit)— drastically fell short of expectations. Of course, each business disappointed on separate counts. While the problem for food delivery was the slowdown in the growth rate of gross order value…
Source: Live Mint The last few years have seen a significant rise in food delivery platforms like Swiggy and Zomato. The fact that these platforms process lakhs of food orders daily shows their growing popularity. When customers order through these platforms, they enjoy benefits such as discounts from the merchant, discounts from the platform itself,…
Source: Live Mint Swiggy, the recently-listed food tech company, has garnered significant attention from leading domestic brokerage firms. After HDFC Securities and JM Financial, Motilal Oswal Financial Services (MOSL) has become the third domestic brokerage to initiate coverage on the stock. The firm believes that Swiggy’s quick commerce business could disrupt consumption patterns in India…
Source: Live Mint Zomato Ltd’s September quarter (Q2FY25) result was decent. A key parameter – the gross order value (GOV) – of food delivery and Blinkit grew by 21% and 122% year-on-year, respectively. Growth rates are in line with management’s guidance. The company needs an average GOV of ₹7 lakh a day per store to…
Source: Business Standard 2 min read Last Updated : Oct 04 2024 | 10:08 PM IST IPO-bound food tech platform Swiggy on Friday announced the launch of its 10-minute meals and beverages delivery service Bolt. It is already operational in key locations across six major cities — Hyderabad, Mumbai, Delhi, Pune, Chennai, and…
Source: Business Standard 4 min read Last Updated : Sep 11 2024 | 11:09 AM IST Shares of food aggregator Zomato hit a new high of Rs 281.40, as they surged 5 per cent on the BSE in Wednesday’s intra-day trade on expectations of a strong earnings growth. The company’s stock has surpassed its previous…
Source: Business Standard 1 min read Last Updated : Sep 06 2024 | 2:16 PM IST Punjab National Bank (PNB) has inked a pact with Zomato and Blinkit, offering exclusive discounts to their credit cardholders. These offers aim to elevate the dining and food delivery experience for PNB customers, providing them with significant savings…
Source: Business Standard 2 min read Last Updated : Sep 06 2024 | 5:13 PM IST Flush with funds, quick commerce major Zepto is gearing up to launch its own buy now, pay later (BNPL) offering, Zepto Postpaid. The programme, which is being teased on the Zepto app, is currently in its early…
