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Quote on Zomato stock pick by Bharat Gala, COO Equity broking- Ventura Securities Below the Quote on Zomato stock pick by Bharat Gala, COO Equity broking- Ventura Securities   “Zomato has exhibited a consistent upward move since June and made a high of 298 in September. A valid correction then followed with a lower top formation and then the stock made a low of 240 in November. Its KST, Aroon Up/Down and Demand Index indicators are positive. Recently, it also showed a symmetrical triangle breakout by a positive weekly price candle supported by volumes...
Quote on Zomato stock pick by Bharat Gala, COO Equity broking- Ventura Securities
Quote on Zomato stock pick by Bharat Gala, COO Equity broking- Ventura Securities
Source: Ventura Securities
2024-11-18 05:28:18 pm
Swiggy`s share turns stale, back at public listing price in just 1 day Online food delivery and quick commerce company Swiggy shares slipped 7.54 per cent to close at Rs 421.60 on Thursday -- just 24 hours after its strong public debut in a bearish market -- due to profit booking on higher level.  During the intra-day trading, shares of Swiggy touched Rs 489 on higher side and Rs 418 on the lower side. Trading volume and value in the trading session stood at 5.61 crore and Rs 2,522 crore on the NSE, respectively. Swiggy's shares were listed in the...
Swiggy`s share turns stale, back at public listing price in just 1 day
Swiggy`s share turns stale, back at public listing price in just 1 day
Source: IANS
2024-11-14 05:17:13 pm
Prosus, Tencent made billions of dollars in Swiggy IPO It rained billions of dollars for global investment group Prosus and Chinese conglomerate Tencent as they raked in the moolah from their investments in Zomato-rival Swiggy’s IPO as it made its stock market debut on Wednesday at a valuation of over $11 billion.  According to the company's draft red herring prospectus (DRHP), Prosus invested nearly Rs 9,055 crore ($1.07 billion) in the online food platform and made Rs 26,927 crore ($3.2 billion) in IPO, thus netting a $2.12 bi...
Prosus, Tencent made billions of dollars in Swiggy IPO
Prosus, Tencent made billions of dollars in Swiggy IPO
Source: IANS
2024-11-13 05:56:01 pm
Zomato introduces feature to `rescue` over 4 lakh cancelled food orders a month Online food delivery platform Zomato on Sunday launched a new feature called ‘Food Rescue’ to save more than 4 lakh orders being get cancelled on the platform every month for various reasons by customers.  Zomato CEO Deepinder Goyal said cancelled orders will now pop up for nearby customers, who can grab them at an unbeatable price, in their original untampered packaging, and receive them in just minutes. The original customer, and those in their immediate vicinity, wil...
Zomato introduces feature to `rescue` over 4 lakh cancelled food orders a month
Zomato introduces feature to `rescue` over 4 lakh cancelled food orders a month
Source: IANS
2024-11-11 09:51:48 am
Swiggy`s IPO subscribed 3.59 times on last day Online food delivery platform Swiggy's Rs 11,327 crore IPO was subscribed 3.59 times on the last day of bidding on Friday after a muted response from the investors in the initial two days of its public issue.   Swiggy IPO was subscribed 0.35 times and 0.12 times on the issue's second and first day, respectively. The reserve portion of qualified institutional buyers (QIBs) subscribed 6.02 times, the non-institutional investors (NIIs) portion saw 0.41 times subscription, the ret...
Swiggy`s IPO subscribed 3.59 times on last day
Swiggy`s IPO subscribed 3.59 times on last day
Source: IANS
2024-11-09 10:10:08 am
Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2 Swiggy IPO continued to see a tepid response from investors on the second day of bidding on Thursday. The Rs 11,327 crore IPO was subscribed 0.35 times or 35 per cent on the second day.  The food delivery company's IPO was opened on Wednesday and subscribed 12 per cent on the first day. As of 5 p.m. on Thursday, qualified institutional buyers (QIBs) subscribed 28 per cent or 0.28 times, the non-institutional investors (NIIs) portion saw 14 per cent or 0.14 times, retail individ...
Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2
Tepid response to Swiggy IPO continues, 35 pc subscription on Day 2
Source: IANS
2024-11-08 09:27:09 am
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave Asia's richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service. Quick commerce has reshaped how Indians shop as Zomato, SoftBank-backed Swiggy and Zepto now promise deliveries from their neighbourhood warehouses within 10 minutes, even beating Amazon. These multi-billion-dollar quick commerce businesse...
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave
Billionaire Mukesh Ambani`s Reliance plays catch-up to ride India quick commerce wave
Source: Reuters
2024-10-30 09:15:29 am
Zomato surges on reporting over 4-fold jump in Q2 consolidated net profit Zomato is currently trading at Rs. 262.45, up by 6.25 points or 2.44% from its previous closing of Rs. 256.20 on the BSE. The scrip opened at Rs. 256.35 and has touched a high and low of Rs. 263.90 and Rs. 242.45 respectively. So far 4368457 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 298.20 on 24-Sep-2024 and a 52 week low of Rs. 101.20 on 26-Oct-2023. Last one week high and low of the scrip stood at Rs. 27...
Zomato surges on reporting over 4-fold jump in Q2 consolidated net profit
Zomato surges on reporting over 4-fold jump in Q2 consolidated net profit
Source: Accord Fintech
2024-10-23 11:52:38 am
Zypp Electric`s losses surge 2.2 times to Rs 91 crore in FY24  Tech-enabled electric vehicle (EV) company Zypp Electric saw its losses increase 2.2 times to Rs 91 crore in FY24, up from Rs 40 crore in the previous fiscal.  The EV-as-a-service platform saw its EBITDA margin stood at 19.47 per cent in negative, as per its FY24 financials. Zypp Electric’s total expenditure went up 2.6 times to Rs 394 crore in FY24, compared to Rs 152 crore in FY23. The EV firm reported operational revenue at Rs 293 crore in the last fiscal, up from...
Zypp Electric`s losses surge 2.2 times to Rs 91 crore in FY24
Zypp Electric`s losses surge 2.2 times to Rs 91 crore in FY24
Source: IANS
2024-10-13 11:43:20 am
Swiggy files for $1.25 billion IPO in India's booming stock market SoftBank-backed Swiggy filed papers on Thursday for an initial public offering, which a source said would be worth $1.25 billion, as the food delivery firm looks to tap a booming stock market in one of India's biggest listings this year. Swiggy is selling shares worth 37.5 billion rupees ($448.56 million), while existing shareholders including Prosus, Accel India and Tencent Europe will sell about 185.3 million shares, the company said in its draft prospectus. The Bengalur...
Swiggy files for $1.25 billion IPO in India's booming stock market
Swiggy files for $1.25 billion IPO in India's booming stock market
Source: Reuters
2024-09-27 08:24:44 am
Gig workers must develop industry-specific knowledge to remain competitive  There is a persistent skill gap among gig economy workers and they must develop industry-specific knowledge to remain competitive, a report said on Tuesday.  The report by TeamLease Edtech showed that 42.86 per cent of gig workers lack industry knowledge as the primary skill deficit. While gig workers are often technically adept, the absence of domain expertise can hinder their efficiency and effectiveness. In addition to this, 28.57 per cent of employers cited soft skills, i...
Gig workers must develop industry-specific knowledge to remain competitive
Gig workers must develop industry-specific knowledge to remain competitive
Source: IANS
2024-09-24 02:06:13 pm
Onboard gig workers on e-Shram portal in 3 months: Centre tells platform aggregators The Centre on Wednesday asked the platform aggregators like Zomato and Ola to onboard gig workers on the e-Shram portal within the next three months to help them access social security benefits.  In a meeting with platform aggregators such as Urban Company, Swiggy and Instamart, Zomato and Blinkit, Porter, Amazon, Uber and Ola as well as organisations such as FICCI, CII and Employer’s Federation of India, Minister of Labour and Employment Dr Mansukh Mandaviya emphasised the need...
Onboard gig workers on e-Shram portal in 3 months: Centre tells platform aggregators
Onboard gig workers on e-Shram portal in 3 months: Centre tells platform aggregators
Source: IANS
2024-09-18 06:21:07 pm
IPO-bound Swiggy clocks Rs 2,350 crore net loss in FY24 Zomato’s rival Swiggy, set for its initial public offering (IPO) posted Rs 2,350 crore in net loss in the last fiscal year (FY24).  The online food delivery platform, however, reduced the net loss by 44 per cent, from Rs 4,179 crore in FY23.  The company saw its revenue grow 36 per cent to Rs 11,247 crore in FY24, from Rs 8,265 crore in the previous year.  Swiggy’s gross order value (GOV) stood at $4.2 billion, up 26 per cent year-on-year (YoY) as monthly t...
IPO-bound Swiggy clocks Rs 2,350 crore net loss in FY24
IPO-bound Swiggy clocks Rs 2,350 crore net loss in FY24
Source: IANS
2024-09-05 02:20:49 pm
Zomato inches up on acquiring OTPL, WEPL Zomato is currently trading at Rs. 256.20, up by 0.20 points or 0.08% from its previous closing of Rs. 256.00 on the BSE. The scrip opened at Rs. 257.30 and has touched a high and low of Rs. 257.80 and Rs. 255.20 respectively. So far 471845 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 280.00 on 19-Aug-2024 and a 52 week low of Rs. 92.61 on 29-Aug-2023. Last one week high and low of the scrip stood at Rs. 269....
Zomato inches up on acquiring OTPL, WEPL
Zomato inches up on acquiring OTPL, WEPL
Source: Accord Fintech
2024-08-28 12:46:22 pm
Swiggy targets $15 billion valuation in India IPO, sources say SoftBank-backed Indian food delivery giant Swiggy is targeting a valuation of around $15 billion for its upcoming stock market offering to raise $1-1.2 billion, three people familiar with the matter said. The deal would make it one of biggest Indian initial public offerings this year. Swiggy competes with Zomato in India's online restaurant and cafe food deliveries sector, and both have made major bets on the new so-called quick commerce boom where groceries and other products are b...
Swiggy targets $15 billion valuation in India IPO, sources say
Swiggy targets $15 billion valuation in India IPO, sources say
Source: Reuters
2024-08-24 09:43:24 am
Paytm sells entertainment ticketing business to Zomato for Rs 2,048 crore Digital payments major Paytm on Wednesday announced to sell its entertainment ticketing business to food aggregator Zomato for Rs 2,048 crore in cash, in a move to focus on core payments and financial services distribution.  The transfer will also include 280 existing employees from the entertainment ticketing business at the company. One 97 Communications Limited (OCL), the parent company of Paytm, will transfer its entertainment ticketing business to Zomato by transfer of OCL&rsq...
Paytm sells entertainment ticketing business to Zomato for Rs 2,048 crore
Paytm sells entertainment ticketing business to Zomato for Rs 2,048 crore
Source: IANS
2024-08-22 09:53:11 am
Zomato sees block deal worth Rs 5,438 crore for 21 crore shares Online food delivery platform Zomato saw a block deal on Tuesday where 21 crore shares (around 2.4 per cent equity) worth Rs 5,438.5 crore changed hands.  The block deal, likely by Antfin Singapore, was executed at an average of Rs 258 per share. The Zomato stock was marginally down at Rs 259.58 apiece in the morning trade after the block deal. Antfin Singapore Holding last held a 4.24 per cent stake in the food aggregator valued at nearly Rs 10,000 crore. According to report...
Zomato sees block deal worth Rs 5,438 crore for 21 crore shares
Zomato sees block deal worth Rs 5,438 crore for 21 crore shares
Source: IANS
2024-08-20 10:25:47 am
Now send Rakhis to siblings in India from select countries via Blinkit In an effort to let Indians living abroad send Rakhis and gifts to their siblings in the country, Zomato-owned quick commerce platform Blinkit on Saturday introduced international order service for select countries.  Announced on the occasion of Raksha Bandhan, the international order service on the platform is available till August 19, the company said in a statement. “We have switched on international orders on Blinkit till August 19. Folks living abroad can now place order...
Now send Rakhis to siblings in India from select countries via Blinkit
Now send Rakhis to siblings in India from select countries via Blinkit
Source: IANS
2024-08-17 02:45:16 pm
Blinkit rival Zepto set to raise $340 million at $5 billion valuation  Quick commerce company Zepto is set to raise $340 million in the new round of funding, a report said on Wednesday. “The company has secured interest from Mars Growth and General Catalyst at a valuation of $5 billion which is a 40 per cent hike from the past funding round valuation of $3.6 billion,” the report said. Adit Palicha-led Zepto had raised funding of $665 million or Rs 5,560 crore in June at a valuation of $3.6 billion. The company aims to double the number...
Blinkit rival Zepto set to raise $340 million at $5 billion valuation
Blinkit rival Zepto set to raise $340 million at $5 billion valuation
Source: IANS
2024-08-14 05:23:18 pm
Zomato relaunches `Intercity Legends` service with minimum order value of Rs 5K Online food delivery platform Zomato has relaunched its 'Intercity Legends' service with a minimum order value of Rs 5,000.  The service, which allowed users to order food from popular restaurants in other cities, was paused in April and has been relaunched with a fresh look within the app. It is now called "Legends" and allows users to customise their orders with dishes from various restaurants across cities in the same transaction. All orders placed before 7 p.m...
Zomato relaunches `Intercity Legends` service with minimum order value of Rs 5K
Zomato relaunches `Intercity Legends` service with minimum order value of Rs 5K
Source: IANS
2024-07-04 06:04:13 pm
40 pc jump in quick commerce spending during T20 WC final Fintech startup Simpl on Sunday said that it witnessed a 40 per cent jump in consumer spending on its platform around the T20 World Cup Final.   India on Saturday defeated South Africa by 7 runs in a nail-biting final to clinch the ICC T20 World Cup at the Kensington Oval in Barbados.  “Indians’ support and celebration at the country’s triumph at the T20 World Cup 2024 was quite evident in their online spending patterns as well with nearly 40 per cent ju...
40 pc jump in quick commerce spending during T20 WC final
40 pc jump in quick commerce spending during T20 WC final
Source: IANS
2024-06-30 04:25:35 pm
Want Zepto to become a $50 bn company that employs lakhs of people: CEO Zepto Co-founder and CEO Aadit Palicha on Sunday said they are ready to turn the quick commerce platform into a $50 billion company.   The Zomato-owned Blinkit’s rival had just raised $665 million at a $3.6 billion valuation in a highly oversubscribed round. The new funding came just nine months after the company raised $235 million at a $1.4 billion valuation. "Reflecting on the past 3 years of building Zepto: the story of 2 kids dropping out of college and starting a c...
Want Zepto to become a $50 bn company that employs lakhs of people: CEO
Want Zepto to become a $50 bn company that employs lakhs of people: CEO
Source: IANS
2024-06-24 09:13:31 am
Zomato shares slide over report claiming 50 pc decline in its stock amid competition Online food aggregator Zomato saw its shares sliding on Friday after global financial services company Macquarie forecasted about a 50 per cent decline in the company's share price in the next 12 months owing to fierce competition.  Zomato shares fell over 5 per cent, before recovering a bit, and was hovering around Rs 173 a piece. The global brokerage firm has reiterated its "underperform" rating for Zomato, giving its stock a price target of Rs 96. According to r...
Zomato shares slide over report claiming 50 pc decline in its stock amid competition
Zomato shares slide over report claiming 50 pc decline in its stock amid competition
Source: IANS
2024-05-31 02:14:53 pm
Kudos to PM Narendra Modi for motivating founders like us to do better: Zomato CEO Zomato Founder and CEO Deepinder Goyal on Wednesday praised Prime Minister Narendra Modi for providing ample opportunities to small-town entrepreneurs like him, as the online food delivery platform, coupled with quick commerce delivery platform Blinkit, scaled new highs in the last couple of years. In a post on X, Goyal thanked PM Modi for his kind words. “This does certainly motivate us to work harder and do better,” the Zomato CEO posted. Earlier in the day, the Prime M...
Kudos to PM Narendra Modi for motivating founders like us to do better: Zomato CEO
Kudos to PM Narendra Modi for motivating founders like us to do better: Zomato CEO
Source: IANS
2024-05-22 03:48:59 pm
After Mumbai & Bengaluru, Zomato expands priority food delivery service to 3 more cities Online food delivery company Zomato has now expanded the 'priority food delivery service' to three more cities -- Delhi, Hyderabad and Pune -- after piloting the offering in parts of Mumbai and Bengaluru. According to the details available on the Zomato app, the company is offering users the choice to choose the priority delivery option to get their food delivered up to 5 minutes faster compared to standard delivery. For the service, the company is charging Rs 19 to Rs 29 per or...
After Mumbai & Bengaluru, Zomato expands priority food delivery service to 3 more cities
After Mumbai & Bengaluru, Zomato expands priority food delivery service to 3 more cities
Source: IANS
2024-05-16 09:31:48 am
Zomato stock slumps after ESOP announcement Online food delivery company Zomato's shares extended its morning session loss on Tuesday up to 5-6 percent, as the company is expecting an increase in cost due to the employee stock ownership plan (ESOP). Zomato announced results of the fourth quarter of the financial year 2024 on Monday. In the post-result commentary, the management said that in the current financial year (FY25), the costs may increase due to the grant of ESOPs to senior employees and the leadership team of Blinki...
Zomato stock slumps after ESOP announcement
Zomato stock slumps after ESOP announcement
Source: IANS
2024-05-14 04:29:23 pm
Zomato CEO calls experienced ex-restaurateurs to help him serve better Zomato co-founder and CEO Deepinder Goyal on Friday called experienced ex-restaurateurs to come and help him build an online food delivery platform that serves its customers and the overall food outlet ecosystem in a better way. In a post on X, Goyal said that one of Zomato’s most important missions is to serve the restaurant owner community. "So far, we only have a few ex-restaurateurs working with us. These folks have been super valuable to Zomato, and to the restaurateur c...
Zomato CEO calls experienced ex-restaurateurs to help him serve better
Zomato CEO calls experienced ex-restaurateurs to help him serve better
Source: IANS
2024-05-04 08:54:09 am
Buy Zomato Ltd. For Target Rs.: 170 - Emkay Global Zomato posted another quarter of impressive execution, with growth across segments. Food delivery GOV grew 6.3% QoQ, but fell short of ours/ company’s own expectations given the muted demand environment. Food delivery contribution margin improved further to 7.1%, aided by ad-monetization and platform fee. Blinkit continued its stellar run with GOV growing 28% QoQ, coupled with further reduction in losses. Blinkit is on track to turn adjusted EBITDA breakeven on or before Q1FY25, accordi...
Buy Zomato Ltd. For Target Rs.: 170 - Emkay Global
Buy Zomato Ltd. For Target Rs.: 170 - Emkay Global
Source: Emkay Global
2024-05-01 01:01:33 pm
Blinkit now more valuable that Zomato`s core food business Zomato’s quick delivery service, Blinkit, has become more valuable than its core food delivery business, according to a new Goldman Sachs report. While Zomato’s food delivery business is valued at Rs 98 per share, Blinkit’s “implied value” is at Rs 119 per share, or about $13 billion, according to the investment bank’s report. In March last year, Goldman Sachs marked Blinkit’s valuation at $2 billion, reports TechCrunch. The report forecasts ...
Blinkit now more valuable that Zomato`s core food business
Blinkit now more valuable that Zomato`s core food business
Source: IANS
2024-04-26 11:50:45 am
Zomato increases mandatory platform fee to Rs 5 Online food delivery platform Zomato has hiked its platform fee by 25 per cent to Rs 5 per order. Zomato introduced a platform fee of Rs 2 in August last year and later increased it to Rs 3 to improve its margins and become profitable. Buoyed by record food orders on New Year’s Eve, the food delivery platform in January increased its mandatory platform fee to Rs 4 from Rs 3 per order across key markets. The new platform fee is levied on all customers, including Zomato Gold. ...
Zomato increases mandatory platform fee to Rs 5
Zomato increases mandatory platform fee to Rs 5
Source: IANS
2024-04-22 09:35:33 am
Zomato introduces `large order fleet` for gatherings of up to 50 people Online food delivery platform Zomato on Tuesday introduced a ‘large order fleet’ to serve orders for a gathering of up to 50 people. Zomato Co-founder and CEO Deepinder Goyal made the announcement on the social media platform X, saying that this fleet is "designed to handle all your large orders for group, party, event, etc with ease". "This is an all-electric fleet, designed specifically to serve orders for a gathering of up to 50 people," he wrote. S...
Zomato introduces `large order fleet` for gatherings of up to 50 people
Zomato introduces `large order fleet` for gatherings of up to 50 people
Source: IANS
2024-04-16 04:57:42 pm
Blinkit to sell Sony PlayStation 5 on its platform Zomato-owned quick commerce platform Blinkit on Thursday said that they will be collaborating with Sony to sell PlayStation 5 on its platform. The company will be launching PlayStation 5 on its platform on April 5. "PlayStation 5 on Blinkit. Launching tomorrow," Albinder Dhindsa, Blinkit’s CEO, posted on X. Earlier this year, Samsung partnered with Blinkit to deliver its newly launched Galaxy S24 series in the country. Customers living in Delhi-NCR, Bengaluru and M...
Blinkit to sell Sony PlayStation 5 on its platform
Blinkit to sell Sony PlayStation 5 on its platform
Source: IANS
2024-04-05 09:56:20 am
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2 Zepto has become the first quick-commerce company to introduce a platform fee of Rs 2 per order. The platform fee will apply to a select set of users. Currently, Zomato-owned Blinkit and Swiggy Instamart, both competitors of Zepto, do not charge a fee on grocery orders, but collect a platform fee from food delivery orders. "We do not believe in being over-dependent on delivery fees to be profitable. We believe in core operating efficiency and cost reduction to be profitable. We ...
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2
Zepto becomes first quick-commerce firm to levy platform fee of Rs 2
Source: IANS
2024-03-13 03:43:07 pm
China`s Antfin sells Zomato stake worth $341.5 million China's Antfin sold a 2.1% stake in Indian food delivery platform Zomato worth $341.5 million on Wednesday, stock exchange data showed. The stake sale comes amid tensions between Beijing and New Delhi over issues ranging from border disputes to India's increasing scrutiny of Chinese businesses and investment. Antfin, which held a 6.42% stake in Zomato as of December-end, sold 176.4 million shares in the price range of 160.11-160.40 rupees each. About 56.8 million shares were bou...
China`s Antfin sells Zomato stake worth $341.5 million
China`s Antfin sells Zomato stake worth $341.5 million
Source: Reuters
2024-03-07 09:25:44 am
India`s Zomato hits record high, bucking internet stocks` sluggishness Shares of Indian food delivery platform Zomato hit a record high on Friday, as improving profitability paves the way for future growth, triggering a turnaround in investor sentiment. Zomato is the most-valuable internet stock in Asia's third-largest economy, with a market capitalisation of more than 1.51 trillion rupees ($18 billion). On Friday, its shares rose nearly 5% to 173.5 rupees. India's several new-age internet companies that hit the markets during the IPO frenzy in 202...
India`s Zomato hits record high, bucking internet stocks` sluggishness
India`s Zomato hits record high, bucking internet stocks` sluggishness
Source: Reuters
2024-03-01 02:34:45 pm
Zomato zooms on reporting consolidated net profit of Rs 138 crore in Q3 Zomato is currently trading at Rs. 148.25, up by 4.25 points or 2.95% from its previous closing of Rs. 144.00 on the BSE. The scrip opened at Rs. 146.90 and has touched a high and low of Rs. 151.45 and Rs. 142.30 respectively. So far 8915684 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 151.45 on 09-Feb-2024 and a 52 week low of Rs. 49.00 on 28-Mar-2023. Last one week high and low of the scrip stood at Rs. 151...
Zomato zooms on reporting consolidated net profit of Rs 138 crore in Q3
Zomato zooms on reporting consolidated net profit of Rs 138 crore in Q3
Source: Accord Fintech
2024-02-09 01:50:08 pm
Zomato registers Rs 125 cr profit in Q3 FY24, revenue up 53% Food delivery platform Zomato on Thursday said it registered Rs 125 crore in profit in the third quarter (Q3) of the current financial year -- an improvement by Rs 390 crore as compared to the same quarter last year. Consolidated adjusted revenue grew 53 per cent year-on-year to Rs 3,609 crore in Q3 FY24 for the company. Gross order value (GOV) across its B2C businesses grew 47 per cent YoY to Rs 12,886 crore. On an annualised basis, Zomato crossed Rs 50,000 crore of GOV in its B2C busi...
Zomato registers Rs 125 cr profit in Q3 FY24, revenue up 53%
Zomato registers Rs 125 cr profit in Q3 FY24, revenue up 53%
Source: Reuters
2024-02-08 03:36:09 pm
Zomato CEO Deepinder Goyal buys 2 plots worth Rs 79 cr in New Delhi  Zomato co-founder and CEO Deepinder Goyal has reportedly bought two plots of land (about 5 acres each) worth Rs 79 crore in Mehrauli area of the national capital. Goyal apparently paid stamp duty worth Rs 5.24 crore for the two plots he purchased from separate sets of owners, according to the property registration paperwork accessed by CRE Matrix. Zomato or Goyal did not immediately comment on the reports. In the first transaction, Goyal reportedly paid Rs 1.74 crore in stamp d...
Zomato CEO Deepinder Goyal buys 2 plots worth Rs 79 cr in New Delhi
Zomato CEO Deepinder Goyal buys 2 plots worth Rs 79 cr in New Delhi
Source: IANS
2024-02-03 09:26:02 am
Zomato gets RBI approval to operate as 'online payment aggregator' Online food delivery platform Zomato on Thursday announced that its wholly-owned subsidiary Zomato Payments Private Limited (ZPPL) has been granted a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an 'Online Payment Aggregator'. The authorisation came into effect from January 24. "We wish to inform that ZPPL has been granted a certificate of authorisation dated January 24, 2024, from the RBI to operate as an ‘Online Payment Aggregator&...
Zomato gets RBI approval to operate as 'online payment aggregator'
Zomato gets RBI approval to operate as 'online payment aggregator'
Source: IANS
2024-01-25 05:13:53 pm
All kinds of preparations on for Swiggy`s IPO: Co-founder Online food delivery platform Swiggy's co-founder and CEO Sriharsha Majety has said that all preparations are underway for its mega Initial Public Offering (IPO), via which it is likely to raise $1 billion later this year. "We've been preparing for our IPO. We've added independent directors to the board and there are all kinds of preparations that are on," Majety told Moneycontrol. For its IPO process, the company is likely to have picked seven investment banks, in...
All kinds of preparations on for Swiggy`s IPO: Co-founder
All kinds of preparations on for Swiggy`s IPO: Co-founder
Source: IANS
2024-01-16 09:40:03 am
Indian online delivery platforms served 65 lakh food orders on New Year`s Evening There were 65 lakh online food delivery orders from Zomato, Swiggy and others on the New Year's Eve 2023, setting a record and delivering 18 per cent higher volumes than the New Year's Eve 2022, a report showed on Thursday. The average order value (AOV) on the day was also at least 30 per cent higher compared to other days of the year, according to market research firm Redseer Strategy Consultants. “Spike days like the IPL, Cricket World Cups, Diwali, NYE etc. are critical...
Indian online delivery platforms served 65 lakh food orders on New Year`s Evening
Indian online delivery platforms served 65 lakh food orders on New Year`s Evening
Source: IANS
2024-01-11 03:17:39 pm
Zomato introduces daily payouts for restaurant partners  Online food delivery platform Zomato on Wednesday introduced a new feature called "daily payouts" to support emerging restaurant partners. Currently, the feature will be available for restaurant partners who receive 100 or fewer orders a month, according to the company. "Our discussions with various restaurant partners highlighted the financial challenges smaller eateries face, using the traditional weekly payout system. This feature is designed to address this crit...
Zomato introduces daily payouts for restaurant partners
Zomato introduces daily payouts for restaurant partners
Source: IANS
2024-01-10 04:17:09 pm
Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77% Amid the ongoing startup gloom comes good news in fintech unicorn Incred which has posted Rs 109 crore in profit in FY23 as compared to Rs 31 crore in FY22, a more than 3.5 times growth. Incred’s revenue surged 77.46 per cent to Rs 866 crore during FY23 from Rs 488 crore in FY22, according to its financials with the Registrar of Companies (RoC). The finance cost (interest expenses) was up 62.6 per cent to Rs 356 crore in FY23 from Rs 219 crore in FY22, as the company scaled its op...
Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%
Fintech unicorn Incred logs Rs 109 cr profit in FY23, revenue up over 77%
Source: IANS
2024-01-08 06:12:18 pm
Buy Zomato for Target Rs.155 - JM Financial Institutional Securities Ltd Show cause notice from GST dept for tax liability of INR 4bn Zomato in a filing to the exchanges has informed that it has received a show cause notice dated 26th Dec’23 from the Directorate General of GST Intelligence, Pune Zonal Unit. The notice requires the company to show cause as to why a tax liability of slightly over INR 4bn towards delivery charges collected by the company from the customers on behalf of the delivery partners should not be demanded along with relevant interest...
Buy Zomato for Target Rs.155 - JM Financial Institutional Securities Ltd
Buy Zomato for Target Rs.155 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
2024-01-04 10:22:19 am
Brokerages wait for clarity to factor in impact of GST notice on Zomato  In a filing to the exchanges, Zomato informed that it has received a show cause notice dated December 26, 2023 from the Directorate General of GST Intelligence, Pune Zonal Unit, JM Financial Institutional Securities said in a report. The notice requires the company to show cause as to why a tax liability of slightly over Rs 4 billion towards delivery charges collected by it from the customers on behalf of the delivery partners should not be demanded along with relevant interest and p...
Brokerages wait for clarity to factor in impact of GST notice on Zomato
Brokerages wait for clarity to factor in impact of GST notice on Zomato
Source: IANS
2024-01-03 02:44:51 pm
Zomato hikes platform fee to Rs 4 across key cities after bumper NY Eve  Buoyed by record food orders on New Year’s Eve, food delivery platform Zomato increased its mandatory platform fee to Rs 4 from Rs 3 per order across key markets. The new rates were effective from January 1. New Year’s Eve saw Zomato temporarily increasing its platform fee as high as Rs 9 per order in certain markets. The company’s shares opened high (were hovering around Rs 126 in morning) on Tuesday after international brokerage firm CLSA remained bullish on...
Zomato hikes platform fee to Rs 4 across key cities after bumper NY Eve
Zomato hikes platform fee to Rs 4 across key cities after bumper NY Eve
Source: IANS
2024-01-02 10:41:58 am
From Zomato to Oyo, massive surge in orders, bookings on New Year`s Eve  Food delivery platforms like Zomato and Swiggy and quick commerce platforms like Blinkit and Zepto, along with hospitality major Oyo, saw highest-ever orders and bookings on the New Year's Eve, compared to previous years. The quick grocery and food delivery platforms received huge orders as revellers preferred to stay home to celebrate the New Year. “We have delivered almost as many orders on NYE 23 as we did on NYE 15, 16, 17, 18, 19, 20 combined. Excited about the futu...
From Zomato to Oyo, massive surge in orders, bookings on New Year`s Eve
From Zomato to Oyo, massive surge in orders, bookings on New Year`s Eve
Source: IANS
2024-01-01 11:07:12 am
Zomato `war room` handles order surge with over 3.2 lakh delivery boys As food orders surged on New Year's Eve, Zomato CEO Deepinder Goyal shared images of the "war room" at the company headquarters. Zomato executives and other team members were seen ready with cans of coke and food for the massive traffic on Zomato on December 31. Goyal tweeted: “3.2 lakh+ delivery partners across @zomato and @letsblinkit are serving India today. Thank you for helping the nation celebrate.” He added that 8,422 orders were placed at 8:06 p.m. -...
Zomato `war room` handles order surge with over 3.2 lakh delivery boys
Zomato `war room` handles order surge with over 3.2 lakh delivery boys
Source: IANS
2024-01-01 09:37:27 am