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Online food, grocery delivery platforms buckle up for heavy rush amid G20 Summit Online food and grocery delivery platforms on Thursday said that are prepared for minimal to no disruption in their services amid the expected heavy demand as a majority of their product categories remain exempted during the G20 Summit weekend which is being organised under a heavy security blanket in Delhi-NCR. Online grocery company Zepto, which became India’s first unicorn of this year, told IANS that with most people working remotely and movement restrictions in place, "we a...
Online food, grocery delivery platforms buckle up for heavy rush amid G20 Summit
Online food, grocery delivery platforms buckle up for heavy rush amid G20 Summit
Source: IANS
7/09/2023 5:32:04 PM
Zomato shines on partnering with Battery Smart Zomato is currently trading at Rs. 93.70, up by 3.98 points or 4.44% from its previous closing of Rs. 89.72 on the BSE. The scrip opened at Rs. 90.24 and has touched a high and low of Rs. 94.25 and Rs. 90.18 respectively. So far 3184991 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 102.85 on 07-Aug-2023 and a 52 week low of Rs. 44.35 on 25-Jan-2023. Last one week high and low of the scrip stood at Rs. 95.60 an...
Zomato shines on partnering with Battery Smart
Zomato shines on partnering with Battery Smart
Source: Accord Fintech
22/08/2023 12:28:09 PM
Gogoro partners with Swiggy to provide smart scooters to delivery partners Global technology leader in battery-swapping ecosystems, Gogoro on Thursday announced an electric vehicle (EV) partnership with online food-delivery platform Swiggy. Under this partnership, Gogoro will provide its smart scooters and battery-swapping infrastructure for Swiggy’s delivery fleet in the country. “Accelerating the electric transformation of India’s hyperlocal fleets is a top priority for Gogoro and India’s national and city governments. Partnering with...
Gogoro partners with Swiggy to provide smart scooters to delivery partners
Gogoro partners with Swiggy to provide smart scooters to delivery partners
Source: IANS
17/08/2023 2:05:04 PM
Times Prime and Haldiram`s Collaborate to Deliver over 4,000 kgs of Ladoos to celebrate Azaadi Ka Tyohar with Swiggy Instamart To celebrate India’s 76th Independence Day, Times Prime, country’s premier digital membership program, has joined hands with Haldiram’s, to spread the joy of ‘Azaadi Ka Tyohar’ by delivering over 4,000 kgs of traditional delectable ladoos. This unique collaboration is set to delight customers, as the festivities find a delicious expression through Swiggy Instamart's seamless delivery network.   Under the collaboration, customers who place an order ...
Times Prime and Haldiram`s Collaborate to Deliver over 4,000 kgs of Ladoos to celebrate Azaadi Ka Tyohar with Swiggy Instamart
Times Prime and Haldiram`s Collaborate to Deliver over 4,000 kgs of Ladoos to celebrate Azaadi Ka Tyohar with Swiggy Instamart
Source: PR Agency
11/08/2023 5:36:40 PM
Buy Zomato Ltd For Target Rs.114 - Geojit Financial Services Ltd All-time high profit, outlook upbeat Zomato Ltd. is a leading food delivery aggregator in India, with presence in 23 other countries as well. • The company’s consolidated revenue grew a significant 70.9% YoY in Q1FY24, primarily due to robust performance of the food delivery and Hyperpure (supplies ingredients to restaurants) businesses. • Also, EBITDA loss narrowed to Rs. 48cr, owing to improvement in operating leverage. Moreover, the company achieved positive profit...
Buy Zomato Ltd For Target Rs.114 - Geojit Financial Services Ltd
Buy Zomato Ltd For Target Rs.114 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
9/08/2023 4:10:00 PM
Buy Zomato Ltd For Target Rs.110 - Motilal Oswal Financial Services Ltd * Zomato delivered an excellent 1QFY24 performance, as it turned profitable and reported strong revenues of INR24.1b (up 17.5% QoQ), much ahead of our estimates of 9.9% QoQ growth and a PAT loss. Revenue growth was led by the food delivery business (up 17% QoQ). While Blinkit was muted (+5% QoQ) due to disruptions in April-May, it should reverse in 2Q (20% QoQ growth guidance). The management has guided for strong 40%/60%+ growth for Zomato (consol)/Blinkit over the next few years, which surp...
Buy Zomato Ltd For Target Rs.110 - Motilal Oswal Financial Services Ltd
Buy Zomato Ltd For Target Rs.110 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
5/08/2023 9:10:47 AM
India`s Zomato shares climb on first-ever quarterly profit Shares of Zomato rose as much as 9.7% on Friday, a day after the food delivery company posted its first-ever quarterly profit.
India`s Zomato shares climb on first-ever quarterly profit
India`s Zomato shares climb on first-ever quarterly profit
Source: Reuters
4/08/2023 9:37:11 AM
India's Zomato posts first quarterly profit since 2021 listing India's Zomato reported its first quarterly profit on Thursday, helped by a tax gain and strong orders on its food delivery and quick commerce platforms. The company reported a profit of 20 million rupees ($241,861.37) for the quarter ended June 30. Zomato, which also runs grocery delivery service Blinkit, said consolidated revenue from operations rose 70.9% to 24.16 billion rupees in the first quarter. That beat analysts average estimate of 22.86 billion rupees, according to Ref...
India's Zomato posts first quarterly profit since 2021 listing
India's Zomato posts first quarterly profit since 2021 listing
Source: Reuters
3/08/2023 3:53:36 PM
McDonald`s India franchisee Westlife's profit misses as costs mountfranchisee Westlife's profit misses as costs mount Westlife Foodworld reported a smaller-than-expected rise in first-quarter profit on Thursday as higher expenses took the shine off increased sales at the operator of McDonald's restaurants in West and South India. The franchisee for the U.S. fast-food chain said consolidated net profit after tax rose to 288.3 million rupees ($3.52 million) for the quarter through June from 235.8 million rupees a year earlier. Analysts on average were expecting the profit to be 321 million rupees, ac...
McDonald`s India franchisee Westlife's profit misses as costs mountfranchisee Westlife's profit misses as costs mount
McDonald`s India franchisee Westlife's profit misses as costs mountfranchisee Westlife's profit misses as costs mount
Source: Reuters
27/07/2023 2:35:26 PM
Swiggy launches credit card with HDFC Bank Online food-delivery platform Swiggy and private sector HDFC Bank on Wednesday announced the launch of the Swiggy HDFC Bank co-branded credit card. The co-branded credit card, the first ever from Swiggy, will be hosted on Mastercard’s payment network. The credit card will provide cardholders rewards and benefits across various online platforms, including Swiggy, according to the company. “We recognise that modern-day consumers actively seek rewards, offers, and cashback p...
Swiggy launches credit card with HDFC Bank
Swiggy launches credit card with HDFC Bank
Source: IANS
26/07/2023 3:50:51 PM
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn Online food-delivery platform Swiggy on Monday announced the second milestone in its committed two-year employee stock ownership plans (ESOP) liquidity programme, in which its employees will have the option to receive liquidity totalling up to $50 million against their ESOPs. This event will also see eligible employees from Dineout which Swiggy acquired last year participate. Swiggy, which announced turning EBITDA positive in its food delivery business as of March successfully integrate...
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn
Swiggy initiates 2nd tranche of ESOP liquidity totalling $50 mn
Source: IANS
24/07/2023 3:19:55 PM
Swiggy delivers 7.6 cr biryani orders in past 12 months in India Ahead of International Biryani Day, celebrated on July 2 every year, online food delivery platform Swiggy on Friday revealed that Indians placed 7.6 crore biryani orders in the past 12 months. According to the company, people across the country placed 219 orders per minute for their favourite dish, ranging from the aromatic 'Lucknowi Biryani' to the spicy 'Hyderabadi Dum Biryani', and from the flavourful 'Kolkata Biryani' to the fragrant 'Malabar Biryani'. ...
Swiggy delivers 7.6 cr biryani orders in past 12 months in India
Swiggy delivers 7.6 cr biryani orders in past 12 months in India
Source: IANS
30/06/2023 4:47:59 PM
Uber to offer cashback as it drops ride discounts for subscribers  Ride-hailing platform Uber has discontinued the 5 per cent discounts on eligible rides that it previously provided to Uber One subscribers. According to an email sent out to customers, beginning with the next billing cycle, subscribers will earn 6 per cent 'Uber Cash' on eligible rides, which they will be able to spend on Uber and Uber Eats, reports TechCrunch. Since the company launched Uber One in 2021 for $9.99 per month and $99.99 per year, discounts on rides have been...
Uber to offer cashback as it drops ride discounts for subscribers
Uber to offer cashback as it drops ride discounts for subscribers
Source: IANS
31/05/2023 10:50:07 AM
Buy Zomato Ltd For Target Rs.90 - Emkay Global Financial Services Ltd Zomato reported better-than-expected operating performance in Q4 – while it registered muted GOV growth QoQ, contribution margin across segments beat estimates. Food-delivery GOV declined 1.7% QoQ to Rs65.7bn in Q4, impacted by: i) February being a shorter month (-220bps), and ii) shutdown of Zomato services in ~225 cities in Jan-23 (-30bps); adjusted for this, GOV grew 0.8% QoQ. Management expects sequential GOV growth to be in a high single digit in Q1FY24, on the back of green shoots...
Buy Zomato Ltd For Target Rs.90 - Emkay Global Financial Services Ltd
Buy Zomato Ltd For Target Rs.90 - Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
27/05/2023 2:03:33 PM
Zomato elevates Rakesh Ranjan as food delivery CEO Online food livery platform Zomato has rejigged the senior leadership team after reporting its better-than-expected quarterly results (Q4 FY23). Zomato informed the Bombay Stock Exchange in a filing that it has appointed Rakesh Ranjan as CEO of its food ordering and delivery business and Rinshul Chandra as COO, food ordering and delivery business. The company also appointed Rishi Arora as CEO of Hyperpure, a subsidiary of the company. Ranjan was earlier business head of new businesse...
Zomato elevates Rakesh Ranjan as food delivery CEO
Zomato elevates Rakesh Ranjan as food delivery CEO
Source: IANS
20/05/2023 3:12:19 PM
Zomato narrows net loss to Rs 188 cr in Q4, revenue up 70% YoY Online food platform Zomato on Friday said that its consolidated net loss narrowed to about Rs 188 crore for the quarter ended March 31, from Rs 360 crore from the year-ago quarter, and from Rs 345 crore from last quarter. The company reported consolidated revenue at Rs 2,056 crore, a 70 per cent jump from Rs 1,211.8 crore in the year-ago period. In FY23, Zomato's loss went down to Rs 971 crore from Rs 1,209 crore a year ago as revenue increased around 70 per cent to Rs 7,079 crore....
Zomato narrows net loss to Rs 188 cr in Q4, revenue up 70% YoY
Zomato narrows net loss to Rs 188 cr in Q4, revenue up 70% YoY
Source: IANS
19/05/2023 5:42:21 PM
Our food delivery business turns profitable, says Swiggy CEO Swiggy CEO Sriharsha Majety on Thursday said that their food delivery business has turned profitable (as of March 2023), after factoring in all corporate costs, excluding employee stock option costs. Without sharing any numbers, Majety said that this is a milestone for food delivery globally, as Swiggy has become one of the very few global food delivery platforms to achieve profitability in less than nine years since its inception. "Our teams are more in sync than ever with restaur...
Our food delivery business turns profitable, says Swiggy CEO
Our food delivery business turns profitable, says Swiggy CEO
Source: IANS
18/05/2023 1:03:49 PM
Swiggy begins charging Rs 2 `platform fee` per food order from users Online food delivery platform Swiggy has started charging all users a "platform fee" of Rs 2 per food order, irrespective of the cart value. The company told IANS that the additional charges are being levied only on food orders on the main platform and does not apply on Instamart users. "The platform fee is a nominal flat fee charged on food orders. This fee helps us operate and improve our platform and enhance app features to deliver a seamless app experience," a Sw...
Swiggy begins charging Rs 2 `platform fee` per food order from users
Swiggy begins charging Rs 2 `platform fee` per food order from users
Source: IANS
28/04/2023 6:01:30 PM
Swiggy partners apna to create 10K jobs for Instamart this year Swiggy and apna, a leading professional networking platform for gig workers, on Thursday announced a partnership to create 10,000 jobs for the online food delivery platforms quick commerce grocery service Instamart this year. According to market research firm RedSeer, the quick commerce domain is anticipated to touch $5.5 billion by 2025, up from $0.3 billion in 2021. This rapid growth will increase the demand from enterprises to hire more delivery partners. "Given Swiggy's pre...
Swiggy partners apna to create 10K jobs for Instamart this year
Swiggy partners apna to create 10K jobs for Instamart this year
Source: IANS
27/04/2023 1:47:49 PM
IRCTC`s Zoop WhatsApp Train Food Delivery (in partnership with Jio Haptik) now also available in Hindi Zoop - IRCTC partnered online food delivery platform is now available in Hindi and Hinglish on WhatsApp Chatbot. This new feature was introduced by IRCTC to make ordering food on trains more convenient and has now been launched in Hindi and Hinglish to cater to a larger customer base. Customers can now place their orders for food online by simply sending a message to Zoop's train food order WhatsApp number 7042062070. The automated WhatsApp chatbot allows passengers to select their...
IRCTC`s Zoop WhatsApp Train Food Delivery (in partnership with Jio Haptik) now also available in Hindi
IRCTC`s Zoop WhatsApp Train Food Delivery (in partnership with Jio Haptik) now also available in Hindi
Source: PR Agency
26/04/2023 6:07:30 PM
Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024 Zypp Electric on Tuesday said it will deploy 1 lakh e-scooters for online food delivery platform Zomato by 2024. The company said that the association is part of a larger plan of Zomato to go completely electric by 2030. "This association will enable us to significantly reduce carbon emissions and bring more sustainable last-mile delivery options to our customers. We look forward to working together to create more efficient and environment friendly deliveries," said Mohit Sard...
Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024
Zypp Electric to deploy 1 lakh e-scooters for Zomato by 2024
Source: IANS
25/04/2023 11:01:35 AM
India's Zomato says most Blinkit stores reopened after wage protests Indian food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut due to wage protests, sending its shares up as much as 5%. The disruptions had less than 1% impact on Zomato's revenue, the Gurgaon-based company said in a regulatory filing. Blinkit, which Zomato bought last year for $550 million, accounted for 12.7% of Zomato's total revenue in the third quarter. Zomato had shut down some stores for a few days ...
India's Zomato says most Blinkit stores reopened after wage protests
India's Zomato says most Blinkit stores reopened after wage protests
Source: Reuters
19/04/2023 11:31:20 AM
Swiggy CTO moves on to start his entrepreneurial venture Online food delivery platform Swiggy on Monday confirmed that its Chief Technology Officer (CTO) Dale Vaz has decided to move on to pursue his entrepreneurial venture. In a statement to IANS, Swiggy said that Vaz will continue in his role till May and will be associated with the company for an extended period in an advisory role. "Madhusudan Rao will take over as CTO. Madhu has been with Swiggy for over four years and has decades of tech leadership experience with a proven track re...
Swiggy CTO moves on to start his entrepreneurial venture
Swiggy CTO moves on to start his entrepreneurial venture
Source: IANS
3/04/2023 5:04:32 PM
Zomato surges on partnering with SUN Mobility Zomato is currently trading at Rs. 50.37, up by 0.21 points or 0.42% from its previous closing of Rs. 50.16 on the BSE. The scrip opened at Rs. 50.30 and has touched a high and low of Rs. 50.50 and Rs. 49.00 respectively. So far 3563938 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 88.40 on 31-Mar-2022 and a 52 week low of Rs. 40.55 on 27-Jul-2022. Last one week high and low of the scrip stood at Rs. 53.92 and...
Zomato surges on partnering with SUN Mobility
Zomato surges on partnering with SUN Mobility
Source: Accord Fintech
28/03/2023 3:02:47 PM
India`s gig economy in a limbo as online food deliveries slow down With a spurt in online food and grocery delivery, especially in the pandemic years, India saw a meteoric rise in the gig economy, giving millions of people job opportunities. However, delivering hot and piping food at customers' doorsteps has become a nightmare for many of them as the food delivery business turns out to be a losing game while more and more delivery partners report unfair work conditions, pay disparity, and harassment. India is likely to see its gig workforce add 9-1...
India`s gig economy in a limbo as online food deliveries slow down
India`s gig economy in a limbo as online food deliveries slow down
Source: IANS
18/03/2023 4:45:49 PM
Zomato rises on unveiling home-style meal service 'Everyday' Zomato is currently trading at Rs. 53.40, up by 0.40 points or 0.75% from its previous closing of Rs. 53.00 on the BSE. The scrip opened at Rs. 52.90 and has touched a high and low of Rs. 53.55 and Rs. 52.80 respectively. So far 868879 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 88.40 on 31-Mar-2022 and a 52 week low of Rs. 40.55 on 27-Jul-2022. Last one week high and low of the scrip stood at Rs. 56.15 and ...
Zomato rises on unveiling home-style meal service 'Everyday'
Zomato rises on unveiling home-style meal service 'Everyday'
Source: Accord Fintech
23/02/2023 10:44:30 AM
Uber partners with Cartken to use sidewalk robots for food deliveries Ride-hailing major Uber has partnered with the US-based robotics company, Cartken, which will provide sidewalk robots to its subsidiary, Uber Eats, to deliver food. According to The Verge, the company will be getting six-wheeled delivery robots, developed by a team of former Google engineers, mostly known for deploying their vehicles on college campuses. Uber claims that its partnership with Cartken represents the robotics company's "first formal partnership with a global on-de...
Uber partners with Cartken to use sidewalk robots for food deliveries
Uber partners with Cartken to use sidewalk robots for food deliveries
Source: IANS
17/12/2022 5:19:52 PM
Food-tech venture Pluckk records $5million annualised revenue run rate in Oct Pluckk, a fresh produce food-tech venture owned by Fruveggie Tech Pvt Ltd., has clocked record revenues of $5 million in a short span of time since its launch in January 2022, making it one of the fastest growing D2C brands in the Fruits & Vegetables (FnV) category. The revenue growth was driven by the launch of the PLUCKK app in April which contributed to its stellar growth with 100k downloads in just three months. The company also announced its expansion in Delhi-NCR, where the pi...
Food-tech venture Pluckk records $5million annualised revenue run rate in Oct
Food-tech venture Pluckk records $5million annualised revenue run rate in Oct
Source: IANS
28/11/2022 12:24:56 PM
Indian food delivery firm Zomato`s co-founder resigns India's Zomato Ltd said on Friday its co-founder, Mohit Gupta, had resigned after about five years at the food aggregator. Gupta is credited with building Zomato's food delivery operations from scratch and was the segment's chief executive before being elevated to co-founder in May 2020. Gupta said in a letter to the company that he was stepping down to pursue "unknown adventures". His resignation follows that of the company's deputy chief financial officer,...
Indian food delivery firm Zomato`s co-founder resigns
Indian food delivery firm Zomato`s co-founder resigns
Source: Reuters
19/11/2022 9:08:11 AM
India`s Zomato surge 13% on narrower quarterly loss Shares of Zomato Ltd jumped 13% on Friday, a day after the food delivery company reported a narrower loss for the second quarter due to a rise in volumes and value of online orders. The company' shares rose as much as 13% to 72.25 rupees in early trading, to hit their highest since June 27. Zomato's consolidated net loss narrowed to 2.51 billion Indian rupees ($30.73 million) in the July-September quarter, from 4.30 billion rupees a year earlier. Excluding figures for its rec...
India`s Zomato surge 13% on narrower quarterly loss
India`s Zomato surge 13% on narrower quarterly loss
Source: Reuters
11/11/2022 10:12:51 AM
Swiggy offers free skill-based learning to gig workers, their kids Online food delivery platform Swiggy on Tuesday announced a skill initiative to offer free learning opportunities to thousands of delivery executives and their children. Swiggy has partnered with Khan Academy, a non-profit educational organisation to provide courses and certifications via its 'Skills Academy'. The company has also partnered with Google to use Read Along, a speech-based reading tool, to help children of delivery partners improve their reading skills. "Wit...
Swiggy offers free skill-based learning to gig workers, their kids
Swiggy offers free skill-based learning to gig workers, their kids
Source: IANS
13/09/2022 5:19:47 PM
Experts on the effects of rising prices and inflation in the food business The country's economy battles with inflation, and food prices have skyrocketed. For instance, edible oils and wheat, along with other food essentials, have seen price spikes that are already burning a hole in customers' wallets. "Earlier, food inflation was influenced by many factors such as rising rural wages, higher minimum support prices, and a narrowing output gap. Moreover, low demand, low global prices, the muted effects of higher minimum support prices (MSP), low global...
Experts on the effects of rising prices and inflation in the food business
Experts on the effects of rising prices and inflation in the food business
Source: IANS
3/09/2022 11:37:16 AM
Zomato kicks off grocery delivery via Blinkit on main app in pilot test Zomato on Saturday kicked off a pilot test of delivering groceries via Blinkit on its main platform in Delhi-NCR, as the online food aggregator aims to "accelerate" the 10-minute delivery platform's journey to profitability. The pilot test is currently being organised at select circles in Delhi-NCR, and after analysing the response, it will be expanded to other cities as well. "Blinkit tab in Zomato app is currently a pilot running at few locations for a small set of ...
Zomato kicks off grocery delivery via Blinkit on main app in pilot test
Zomato kicks off grocery delivery via Blinkit on main app in pilot test
Source: IANS
28/08/2022 9:13:12 AM
Zomato Pro stops new sign ups, renewals as firm plans new premium plan Online food delivery platform Zomato has stopped signing up new users or renewing old subscriptions for its loyalty dining membership programme called 'Pro', as the Deepinder Goyal-run company is working with customers and restaurant partners to craft a new programme. The move comes as fine-dine restaurants are now open across the country after facing a turbulent time in the pandemic, and people now prefer going out with families for dinners. The online food aggregator launched ...
Zomato Pro stops new sign ups, renewals as firm plans new premium plan
Zomato Pro stops new sign ups, renewals as firm plans new premium plan
Source: IANS
22/08/2022 12:10:03 PM
Zomato moves up on acquiring entire stake in Blink Commerce India Zomato is currently trading at Rs. 57.45, up by 1.50 points or 2.68% from its previous closing of Rs. 55.95 on the BSE. The scrip opened at Rs. 56.70 and has touched a high and low of Rs. 57.70 and Rs. 56.35 respectively. So far 3578917 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 169.10 on 16-Nov-2021 and a 52 week low of Rs. 40.55 on 27-Jul-2022. Last one week high and low of the scrip stood at Rs. 59.15 an...
Zomato moves up on acquiring entire stake in Blink Commerce India
Zomato moves up on acquiring entire stake in Blink Commerce India
Source: Accord Fintech
11/08/2022 11:35:30 AM
Colliers hires Peush Jain as Managing Director for Office Services in India Appointment will help expand Colliers’ role as a premier provider of occupier services across India Leading diversified real estate professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced the appointment of Peush Jain as Managing Director for Office Services, leading the group’s efforts to build a robust organisation that meets the requirements of occupier clients in the fast-evolving commercial real estate sector in India....
Colliers hires Peush Jain as Managing Director for Office Services in India
Colliers hires Peush Jain as Managing Director for Office Services in India
Source: PR Agency
14/07/2022 12:05:35 PM