Is Zomato's dream stock market run over?
2 days, 11 hours ago

Is Zomato's dream stock market run over?

India Today  

Shares of Zomato fell over 5% in early trade on Tuesday, extending its weak market run after a period of strong gains. The brokerage also reduced its target price for the food delivery giant by 18% to Rs 275, down from Rs 335, reflecting concerns over intensified competition in the quick commerce segment. Jefferies cited heightened competition from Swiggy’s Instamart, Zepto, and Amazon as potential headwinds for Blinkit, Zomato’s quick commerce arm, which could impact profitability. The firm lauded Zomato’s leadership in food delivery and quick commerce, highlighting its strong user acquisition strategy and expanding addressable market through initiatives like Dine Out. It highlighted Zomato’s market leadership but acknowledged Swiggy’s aggressive expansion plans, including its 10-minute food delivery service, Bolt.

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History of this topic

Zomato’s losing steam and the Blinkit drag
Trending News
1 day, 3 hours ago

Zomato’s losing steam and the Blinkit drag

Live Mint  

Zomato has been a poster child of startup success. For perspective, Zomato’s food-delivery business turned profitable as early as the second quarter of FY23, but owing to the drag by Blinkit, Zomato as a whole turned profitable only in FY24. Food delivery: From strength to strength Even as Blinkit grows as a share of Zomato’s business, food-delivery has remained the …

Zomato share price tumbles 3% today as poor market run continues. What's next?
Trending News
1 day, 11 hours ago

Zomato share price tumbles 3% today as poor market run continues. What's next?

India Today  

Shares of food delivery giant Zomato extended their decline for the fourth consecutive session, falling over 3% in early trade on Wednesday. The ongoing slide in Zomato’s stock was triggered by a downgrade from foreign brokerage Jefferies, which changed its rating from “buy” to “hold.” The brokerage also slashed its target price by 18% to Rs 275, down from Rs …

Zomato shares drop 5% after Jefferies downgrades stock, cuts target price by 18% to ₹275
2 days, 4 hours ago

Zomato shares drop 5% after Jefferies downgrades stock, cuts target price by 18% to ₹275

Live Mint  

Shares of food aggregator Zomato fell 5 per cent on Tuesday, January 7 after global brokerage Jefferies downgraded the stock to 'Hold', according to media reports. The brokerage also reduced its target price for Zomato by 18 per cent from ₹335 to ₹275, indicating just over 9 per cent upside potential. In response to these challenges, Jefferies significantly lowered its …

Zomato share price falls after Jefferies downgrades stock, cuts target price to Rs 275
2 days, 11 hours ago

Zomato share price falls after Jefferies downgrades stock, cuts target price to Rs 275

India Today  

Foreign brokerage Jefferies has downgraded Zomato from a ‘Buy’ to a ‘Hold’ rating, slashing its target price to Rs 275 from Rs 335, citing increased competition in the quick commerce segment. It initiated coverage on both Zomato and Swiggy with ‘Buy’ ratings, setting 12-month target prices of Rs 385 and Rs 705, respectively. ZOMATO VS SWIGGY While Zomato leads in …

Zomato first startup in Sensex 30
2 weeks, 2 days ago

Zomato first startup in Sensex 30

Deccan Chronicle  

Chennai: Food tech giant Zomato has made history as the first Indian startup to join the Bombay Stock Exchange Sensex 30, replacing JSW Steel in the benchmark index of India’s top 30 companies. Zomato’s total market capitalization of Rs 2.7 lakh crore surpassed JSW Steel's Rs 2.24 lakh crore. However, on Monday, following its inclusion in the Sensex 30, Zomato's …

Zomato debuts on Sensex, inflows worth over ₹4,300 crore expected
Top News
2 weeks, 3 days ago

Zomato debuts on Sensex, inflows worth over ₹4,300 crore expected

Hindustan Times  

Food delivery giant Zomato Ltd is debuting on the Bombay Stock Exchange's benchmark Sensex index on Monday, December 23, 2024, making it the first startup or newer company to do so. The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken …

Zomato shares to be in focus today. Here's why
Trending News
2 weeks, 3 days ago

Zomato shares to be in focus today. Here's why

India Today  

Zomato shares are set to be in the spotlight today as the food delivery giant achieves a huge milestone, becoming the first new-age tech company to join the BSE Sensex’s 30-share index. Brokerage firm Nuvama has estimated inflows of $513 million into Zomato due to its inclusion in the Sensex, while JSW Steel may see outflows of $252 million. Brokerage …

Zomato share price falls over 3% after inclusion in Sensex
Trending News
2 weeks, 4 days ago

Zomato share price falls over 3% after inclusion in Sensex

Live Mint  

Zomato share price fell over 3% on Monday after the food delivery giant was included in the benchmark BSE Sensex index. Zomato’s inclusion in the Sensex not only reflects the food delivery giant’s market leadership but also signifies the growing prominence of tech-driven companies in the Indian stock market landscape. Zomato Share Price Trend Zomato share price has delivered impressive …

Zomato upends tradition with Sensex entry
2 weeks, 4 days ago

Zomato upends tradition with Sensex entry

Live Mint  

Zomato will make history on Monday as the first new-age tech stock to be included in the prestigious BSE Sensex, replacing JSW Steel in a half-yearly rebalancing of constituents. While the rejig is routine, the food delivery giant's inclusion in the club of India's most influential companies underscores the growing prominence of the digital sector. While Sensex companies drive India's …

JPMorgan says Swiggy an ‘underappreciated winner’, sees 25% upside in stock price
2 weeks, 6 days ago

JPMorgan says Swiggy an ‘underappreciated winner’, sees 25% upside in stock price

Live Mint  

Swiggy shares, which have already run up close to 50 per cent from their IPO price of ₹390, still have more room to run, according to JPMorgan as the brokerage initiated coverage on the stock with a ‘buy’ rating and a target price of ₹730. JPMorgan's price target implies a potential upside of 25 per cent in food delivery aggregator's …

How Zomato, Swiggy, Zepto are achieving disruptive 10-min food deliveries
2 weeks, 6 days ago

How Zomato, Swiggy, Zepto are achieving disruptive 10-min food deliveries

Hindustan Times  

Food delivery apps in India are promising to bring biryani to hot beverages at customers’ doorsteps in under 10 minutes, as competition for impatient consumers intensifies among digital platforms. Bolt accounts for 5% of Swiggy’s total food delivery orders within two months of its launch, Sidharth Bhakoo, chief business officer of food marketplace at Swiggy said in an email. “When …

Swiggy share price poised for 20% upside? Axis Capital initiates coverage on stock, highlights competitive position
Trending News
3 weeks, 3 days ago

Swiggy share price poised for 20% upside? Axis Capital initiates coverage on stock, highlights competitive position

Live Mint  

Stock Market Today: Shares of Swiggy climbed over 6 per cent on Monday, December 16 after the brokerage house Axis Capital initiated coverage on the new-age stock with a ‘Buy’ rating and a target price of ₹640, citing a 27 per cent valuation discount to peer Zomato as justified. Analysts at Axis Capital view Swiggy as a compelling investment opportunity, …

Zomato’s Blinkit launches Bistro app: How does it compare with Zepto Cafe? All we know about ’new growth frontier’
3 weeks, 6 days ago

Zomato’s Blinkit launches Bistro app: How does it compare with Zepto Cafe? All we know about ’new growth frontier’

Live Mint  

Zomato's Blinkit launches Bistro app: Food aggregator and delivery platform Zomato's grocery arm Blinkit has lauched its new food delivery app called Bistro. Available on Google Play Store and with plans for roll-out on Apple's iOS soon, the new app challenegs the lucrative quick food delivery space just as Zepto announced the separate launch of Zepto Cafe app. Next Growth …

Zomato shares climb over 6% to record high, end 18 of last 21 months in green with 500% gain
1 month ago

Zomato shares climb over 6% to record high, end 18 of last 21 months in green with 500% gain

Live Mint  

Stock Market Today: Shares of Zomato, the food delivery aggregator, achieved a new milestone in Thursday's trade on December 5, crossing the ₹300 mark for the first time in intraday trade to touch a fresh record high of ₹304.65, gaining 6.4 per cent and surpassing its previous all-time high of ₹298.25, which was recorded in September. Global brokerage firm CLSA …

Swiggy and Zomato shares hit all-time high today. Can they deliver more returns?
1 month ago

Swiggy and Zomato shares hit all-time high today. Can they deliver more returns?

India Today  

Shares of online food delivery giants Swiggy and Zomato extended their rally on Thursday, driven by strong buying interest among investors. The rally follows Swiggy’s robust Q2 results, which showcased strong revenue growth and promising developments in its quick commerce and food delivery segments. However, Swiggy faced challenges in market share as its gross order value growth in food delivery …

Can Swiggy’s Instamart spice it up in quick commerce?
1 month ago

Can Swiggy’s Instamart spice it up in quick commerce?

Live Mint  

For the September quarter, both companies saw about 5% and 24% growth in their respective gross order values of the food delivery and quick-commerce businesses. In Q2FY25, Swiggy’s GOV was ₹10,600 crore against ₹15,800 crore of Zomato in both the main businesses, i.e., food delivery and quick commerce together. Its adjusted Ebitda in Q2FY25 in the two businesses was ₹333 …

Zomato raises ₹8,500 crore via QIP at ₹252.62 per share to bulk up cash reserves
1 month, 1 week ago

Zomato raises ₹8,500 crore via QIP at ₹252.62 per share to bulk up cash reserves

Live Mint  

Bengaluru: Food and grocery delivery player Zomato has raised ₹8,500 crore through its qualified institutional placement, allocating 33.64 crore shares at ₹252.62 apiece, it said in a filing with the stock exchanges on Friday. The Gurugram-based company’s cash balance fell to ₹10,800 crore in the September quarter of FY25 from ₹14,400 crore when it launched an initial public offering in …

Zomato shares up 131% this year: Should you buy multibagger stock?
1 month, 1 week ago

Zomato shares up 131% this year: Should you buy multibagger stock?

India Today  

Food delivery giant Zomato’s shares surged over 131% on a year-to-date basis, delivering multibagger returns to investors. Zomato plans to invest Rs 2,100 crore in Blinkit’s capex over FY2026-28, including the development of dark stores and warehousing capabilities. The brokerage noted that Zomato’s food delivery business continues to grow, with a 24% year-on-year increase in power customers to 34 lakh …

Zomato CEO Deepinder Goyal forgoes Rs 3.5 crore salary till FY26
1 month, 2 weeks ago

Zomato CEO Deepinder Goyal forgoes Rs 3.5 crore salary till FY26

India Today  

Deepinder Goyal, the CEO of food delivery platform Zomato, has decided to forgo his annual salary of Rs 3.5 crore until the end of the financial year 2026. He owns a 4.18% stake in Zomato, which is currently valued at over Rs 10,000 crore, based on the company’s closing share price on November 25. ZOMATO’S MARKET PERFORMANCE Zomato has achieved …

Zomato Shares Surge 6 Per Cent. Here's Why
Trending News
1 month, 2 weeks ago

Zomato Shares Surge 6 Per Cent. Here's Why

ABP News  

Shares of Zomato soared as much as 6 per cent in early trade on Monday, fueled by two major developments, its inclusion in the benchmark BSE Sensex and shareholder approval for a Rs 8,500 crore Qualified Institutional Placement. The inclusion highlights Zomato's impressive market performance, with the stock rallying over 113 per cent this year. The company's cash reserves saw …

Zomato Share Price Today on 22-11-2024: Zomato share price are down by -0.99%, Nifty up by 1.21%
1 month, 2 weeks ago

Zomato Share Price Today on 22-11-2024: Zomato share price are down by -0.99%, Nifty up by 1.21%

Live Mint  

Zomato Share Price Today on 22-11-2024: At 22 Nov 12:43 today, Zomato shares are trading at price ₹264.1, -0.99% down from the previous closing price. On the technical front, the stock is trading above the 10,20,100,300 days SMA & lower than the 5,50 day SMA. The stock will have support at 10,20,100,300 days SMA & face resistance at 5,50 days …

Betting on Swiggy and Zomato: Can India’s food delivery titans deliver?
1 month, 2 weeks ago

Betting on Swiggy and Zomato: Can India’s food delivery titans deliver?

Live Mint  

The Indian food delivery market has become a fierce battleground, with Swiggy and Zomato not only competing for your dinner orders but also commanding attention in boardrooms and on trading floors. Zomato’s recent analyst reports echo this optimism, indicating that while the market remains consolidated, both players have significant room to grow as more Indians adopt food delivery services. View …

Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’
1 month, 2 weeks ago

Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’

Live Mint  

Swiggy, a direct competitor to Zomato and one of India's leading food delivery aggregators made its highly anticipated stock market debut on November 13. Interestingly, just weeks before Swiggy's IPO, Zomato CEO Deepinder Goyal had some advice for Swiggy's employees, reflecting on his company's own experience of going public in 2021, the Times of India reported. Speaking at the ET …

Zomato eyes 30 per cent annual growth in food delivery business in next 5 years: Report
1 month, 3 weeks ago

Zomato eyes 30 per cent annual growth in food delivery business in next 5 years: Report

India TV News  

Zomato, an Indian food delivery major reportedly expects its key meal delivery business to grow at an annual rate of 30 per cent over the next 5 years, a top executive stated, hailing the listing of SoftBank-backed peer Swiggy as a boost for the sector. It was on Monday when Rakesh Ranjan, Zomato's food delivery CEO said, "The food delivery …

Swiggy and Zomato: What should be your strategy for these two new age tech stocks?
1 month, 3 weeks ago

Swiggy and Zomato: What should be your strategy for these two new age tech stocks?

Live Mint  

Swiggy and Zomato: The focus on food delivery companies has intensified over the past few weeks, particularly with Swiggy making its debut on the Indian stock market. “While on an absolute basis Swiggy offers decent upside, we would prefer Zomato if asked to pick only one due to its superior execution in the past and market leadership across key segments. …

Swiggy vs Zomato: Which food delivery stock should you buy for long-term? Here’s a 5-point analysis
1 month, 3 weeks ago

Swiggy vs Zomato: Which food delivery stock should you buy for long-term? Here’s a 5-point analysis

Live Mint  

Swiggy vs Zomato: After a decent initial public offering, Softbank-backed food delivery giant Swiggy delivered a powerful stock market debut, beating analysts' estimates. Zomato has established itself as the leading player in India's food delivery industry, capturing a market share of 56 per cent-57 per cent in online food orders in FY24. Here are the five key indicators to compare …

Zomato Welcomes Swiggy to Stock Market With Warm Post as it Makes Debut
1 month, 3 weeks ago

Zomato Welcomes Swiggy to Stock Market With Warm Post as it Makes Debut

Deccan Chronicle  

Hyderabad: Food delivery giant Zomato on Wednesday shared a post welcoming its rival Swiggy as it made its stock market debut. Couldn't have asked for a better company to serve India with," he wrote on X. Swiggy got listed at Rs 420 on the NSE, a 7.69 per cent jump from the issue price. According to a report by PTI, …

Swiggy or Zomato: Which stock will deliver better returns to investors?
1 month, 3 weeks ago

Swiggy or Zomato: Which stock will deliver better returns to investors?

India Today  

Swiggy’s stock market debut has set off a fresh wave of interest in the food delivery sector. "Despite a strong potential growth runway and an improving margin profile, we believe Swiggy still has a long and winding road to profitability,” the brokerage stated in a research note, adding that, while Zomato remains the more efficient operator, “we prefer Swiggy over …

'You and I…': Zomato welcomes Swiggy on Dalal Street after stock market listing
1 month, 3 weeks ago

'You and I…': Zomato welcomes Swiggy on Dalal Street after stock market listing

India Today  

Food delivery giant Zomato welcomed Swiggy stock market debut on Tuesday with a warm social media post. The post was accompanied by an image of Swiggy and Zomato delivery persons standing in front of the Bombay Stock Exchange building. Swiggy’s IPO was oversubscribed by 3.59 times, but non-institutional investors showed lower interest, with subscriptions at 0.41 times. Meanwhile, markets remained …

CCI says Zomato, Swiggy in breach of antitrust laws in India: Report
2 months ago

CCI says Zomato, Swiggy in breach of antitrust laws in India: Report

Hindustan Times  

The Competition Commission of India said in its non-public documents that food delivery giants Swiggy and Zomato are in breach of the antitrust and competition laws of India, with their business practices favouring select restaurants listed on their platforms, reported Reuters. Swiggy and Zomato are the leading food delivery companies in India The antitrust body's documents say that Zomato entered …

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show
2 months ago

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show

Live Mint  

An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show. Exclusivity arrangements between Swiggy, Zomato and their respective restaurant partners "prevent the market from becoming more competitive," the CCI's investigation arm noted in its findings reviewed by Reuters on Friday. …

Zomato, Swiggy accused of unfair practices in food delivery market: Report
2 months ago

Zomato, Swiggy accused of unfair practices in food delivery market: Report

India Today  

An investigation has revealed that leading food delivery platforms Zomato and Swiggy have violated competition laws in India, according to documents from the Competition Commission of India. In Swiggy's IPO documentation, the company acknowledges the CCI case as an "internal risk," noting that "any breach of the provisions of Competition Act, may attract substantial monetary penalties." FOUND GUILTY OF ‘REDUCING …

Swiggy vs Zomato: Should you apply for Swiggy IPO or buy rival Zomato shares? Analysts weigh in
2 months ago

Swiggy vs Zomato: Should you apply for Swiggy IPO or buy rival Zomato shares? Analysts weigh in

Live Mint  

The highly-anticipated initial public offering of online food and grocery delivery giant Swiggy is set to hit Dalal Street on November 6, aiming to raise approximately ₹11,327.43 crore from the primary market. Investors now wonder whether they should apply for the Swiggy IPO or buy Zomato shares, which have shown a decent performance. Echoing similar views, Anshul Jain, Head of …

Zomato's Stock Recovers After Volatility, but Analysts Remain Cautious
2 months, 2 weeks ago

Zomato's Stock Recovers After Volatility, but Analysts Remain Cautious

India Today  

Zomato's stock experiences volatility in early trade, with a decline of nearly 5% due to profit booking. However, the company's Q2FY25 results are strong, with a 389% surge in profits and a 68% increase in revenue. The stock price eventually rose to Rs 260.15 on the BSE by 10:22 am, after hitting a day low of Rs 242.45. Several brokerages …

Zomato Q2 Results Preview: Strong Revenue and Profit Outlook
Trending News
2 months, 2 weeks ago

Zomato Q2 Results Preview: Strong Revenue and Profit Outlook

Live Mint  

Zomato is expected to announce significant revenue and net profit growth for the September quarter of FY 2024-25, driven by the expansion of its food delivery operations. Analysts predict a 63 per cent YoY revenue growth, with a significant contribution from the Hyperpure and Blinkit divisions. The company is also expected to report an 18.2 per cent YoY growth in …

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details
4 months ago

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details

News 18  

Shares of food delivery platform Zomato surged 8 per cent to Rs 261.50 on the BSE in Thursday’s intra-day trade amid heavy volumes in an otherwise lacklustre market. For Blinkit, the company’s quick commerce arm, revenues surged 145 per cent year-on-year to Rs 942 crore, though adjusted EBITDA for the same period stood at Rs -3 crore. The gross order …

Swiggy Eyes $15 Billion Valuation For IPO, Aiming To Raise $1.2 Billion: Report
4 months, 2 weeks ago

Swiggy Eyes $15 Billion Valuation For IPO, Aiming To Raise $1.2 Billion: Report

ABP News  

Swiggy IPO: Indian food delivery giant Swiggy, backed by SoftBank, is gearing up for a major initial public offering, targeting a valuation of approximately $15 billion, sources privy to the matter told news agency Reuters. Zomato, Swiggy's main competitor, has seen its shares more than double since going public in 2021, with a market valuation now reaching $28 billion. According …

Zomato stock price up 112% in 2024; should investors buy now?
5 months ago

Zomato stock price up 112% in 2024; should investors buy now?

Live Mint  

Global brokerage firm Nomura has increased its target price for Zomato to ₹280 from ₹225 while maintaining a ‘buy’ recommendation. Q1 Earnings Zomato’s consolidated net profit for Q1FY25 skyrocketed to ₹253 crore, up from ₹2 crore a year ago, driven by increased gross order value across its food delivery, quick commerce, and going-out verticals. Investment Rationale Food Delivery Growth: Nomura …

Zomato Shares Zooms Over 12%, Hit 52-Week High After Reporting Significant Profit Jump
5 months, 1 week ago

Zomato Shares Zooms Over 12%, Hit 52-Week High After Reporting Significant Profit Jump

ABP News  

Shares of Zomato soared more than 12 per cent on Friday following the food delivery aggregator's announcement of a substantial increase in consolidated net profit, reaching Rs 253 crore for the June quarter. On the NSE, Zomato's stock surged 12.14 per cent to trade at Rs 262.50 per share. Zomato's impressive performance for the April-June period of FY25 was highlighted …

Zomato Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%
5 months, 1 week ago

Zomato Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%

The Hindu  

Food delivery aggregator Zomato on Thursday reported a multifold jump in consolidated net profit to ₹253 crore for the April-June quarter of 2024-25 compared to ₹2 crore in the year-ago period. In a letter to shareholders, Zomato Chief Financial Officer Akshant Goyal shared that the gross order value growth across its B2C businesses accelerated to 53% YoY to ₹15,455 crore. …

Zomato Q1 Result: Food Delivery Platform's Net Profit Surges To Rs 253 Crore
5 months, 1 week ago

Zomato Q1 Result: Food Delivery Platform's Net Profit Surges To Rs 253 Crore

ABP News  

Zomato Q1 Result: Food delivery platform Zomato announced a beyond-expected rise in quarterly profit, driven by robust demand for its food and grocery delivery services. On Thursday, the company reported a consolidated net profit surged to Rs 253 crore for the April-June quarter of the fiscal year 2024-25, up from Rs 2 crore in the same period last year. The …

Zomato Q1 results: Profit jumps to ₹253 crore; revenue soars 74% YoY
5 months, 1 week ago

Zomato Q1 results: Profit jumps to ₹253 crore; revenue soars 74% YoY

Hindustan Times  

Zomato Q1 results: Online food delivery giant Zomato reported multifold year-on-year growth in its consolidated net profit to ₹253 crore for the quarter ended June 30, 2024. The company's net profit jumped 126.5 times in the April-June quarter, compared to the year ago period. Zomato Q1 results: The logo of Indian food delivery company Zomato is seen on its app …

Goyal’s Zomato Shares Surge: A Look at the Rise of a Food Tech Giant
5 months, 3 weeks ago

Goyal’s Zomato Shares Surge: A Look at the Rise of a Food Tech Giant

Deccan Chronicle  

In the ever-evolving world of technology and finance, few stories capture the imagination quite like that of Zomato, the food delivery giant that's not only transformed the way we eat but also how we invest. At the center of this narrative is Deepinder Goyal, the 41-year-old co-founder and CEO of Zomato, who recently made headlines for his staggering shareholding and …

Deepinder Goyal's plan for Zomato's Blinkit that may worry Amazon, Flipkart
10 months, 3 weeks ago

Deepinder Goyal's plan for Zomato's Blinkit that may worry Amazon, Flipkart

Hindustan Times  

Zomato's Blinkit could reportedly add more brands across new categories as it aims to compete with ecommerce marketplaces like Amazon and Flipkart. As the company aims to push into the fast-growing direct-to-consumer area it could build its own supply chain to directly source branded products as well as manage stock, Economic Times reported. Zomato would deliver these through Blinkit as …

Zomato share price hits 52-week high, here’s what driving the rally
10 months, 3 weeks ago

Zomato share price hits 52-week high, here’s what driving the rally

Live Mint  

Zomato shares experienced a notable surge of 6 percent during morning trading on February 12, reaching a fresh 52-week pinnacle of ₹158.80 on the National Stock Exchange. The upswing follows Zomato's impressive financial performance, with the Gurugram-based food aggregator reporting a consolidated net profit of ₹138 crore for Q3FY24, a significant turnaround from the net loss of ₹347 crore in …

Zomato: Delivering profit and robust growth
10 months, 4 weeks ago

Zomato: Delivering profit and robust growth

New Indian Express  

NEW DELHI: Back in June 2022 when Zomato announced its decision to acquire loss-making quick commerce firm Blinkit, there was wide scepticism that this purchase would delay the company’s path to profitability. Zomato on Thursday reported a profit after tax of R138 crore in the December quarter, helped by sharp growth in its quick commerce business and resilience shown by …

Zomato surges over 5 per cent after posting third straight quarter of profit at Rs 138 crore
11 months ago

Zomato surges over 5 per cent after posting third straight quarter of profit at Rs 138 crore

India TV News  

Shares of online food delivery firm Zomato Ltd surged over 5 per cent on Friday following the company's announcement of a consolidated net profit of Rs 138 crore for the third quarter ended December 31, 2023. Zomato Ltd's revenue surged by 69 per cent year-on-year to reach Rs 3,288 crore, contrasting with the challenges faced by the broader e-commerce sector …

Zomato gets RBI approval to operate as online payment aggregator
11 months, 2 weeks ago

Zomato gets RBI approval to operate as online payment aggregator

Hindustan Times  

Online food delivery platform Zomato on Thursday announced that it has received authorisation by the Reserve Bank of India as an ‘Online Payment Aggregator’. “Pursuant to our earlier disclosure dated August 4, 2021 regarding the incorporation of Zomato Payments Private Limited, a wholly owned subsidiary of Zomato Limited to carry out the business, inter alia, as payment aggregator and issuer …

Swiggy’s GMV reaches $1.43 billion in 1H24; here’s what brokerages say
1 year, 1 month ago

Swiggy’s GMV reaches $1.43 billion in 1H24; here’s what brokerages say

Live Mint  

Food-Tech Review: Domestic brokerages have conducted comparisons between food-delivery tech companies, Swiggy and its rival Zomato, following global investment firm Prosus's review report on Swiggy. Swiggy's core food delivery business grew 17% and delivered gross merchandise value of $1.43 billion in the first half of FY24, reported CNBC-TV 18 citing Prosus. Here's what brokerages say JM Financial According to the …

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