Swiggy Instamart picks up pace but still lags Zomato's Blinkit
1 month, 1 week ago

Swiggy Instamart picks up pace but still lags Zomato's Blinkit

Live Mint  

Swiggy Ltd’s food-delivery business saw a sequential rise in its average monthly transacting users to 14.9 million in Q3FY25 from 14.7 million. While it is hard to identify specific reasons for the divergent trends seen in the customer base of the two rivals, it is possible that Swiggy’s 10-minute food delivery service Bolt launched in October might have helped it in adding new users. Swiggy’s inferior profitability is despite having a higher take rate, or commissions per order, of 25% as against 24.3% of Zomato. Budget 2025 boost Swiggy’s management is optimistic that the income tax reduction announced in the Union Budget 2025-26 should lead to higher disposable income, thus boosting discretionary spending, which could provide impetus to the food delivery business. Overall, Instamart’s contribution margin deteriorated to negative 4.6% q-o-q from negative 1.9% as the initial costs of aggressively expanding dark stores bit into the profitability of the matured or old dark stores.

Delivery Quick Commerce Zomato Higher Swiggy Bolt Blinkit Instamart  qoq  pace  instamart  profitability  stores  picks  higher  blinkit  q3  swiggy  lower  zomatos  zomato  swiggys  delivery  management  lags

History of this topic

Zomato, Swiggy shares can jump up to 127%, says ICICI Securities
2 weeks ago

Zomato, Swiggy shares can jump up to 127%, says ICICI Securities

Live Mint  

Swiggy share price has the potential to more than double, while Zomato share price can jump nearly 40% from current levels, according to ICICI Securities’ latest report on these quick commerce stocks. ICICI Securities reiterated its ‘Buy’ rating on Swiggy shares with a target price of ₹740 per share, implying an upside potential of 127% from Monday’s closing price. Swiggy …

Swiggy's Q3 loss widens to ₹799 crore amid rising competition from Zomato
1 month, 1 week ago

Swiggy's Q3 loss widens to ₹799 crore amid rising competition from Zomato

Hindustan Times  

India's Swiggy reported a wider quarterly loss on Wednesday, as the online platform poured money into its grocery delivery business to compete with rivals Zomato and Zepto. REUTERS/Francis Mascarenhas/File Photo The company reported a consolidated loss of 7.99 billion rupees for the third quarter ended Dec. 31, compared to a loss of 5.74 billion rupees a year earlier. Zomato, which …

Swiggy Q3 net loss widens to Rs 799 crore; revenue up 31%
Trending News
1 month, 1 week ago

Swiggy Q3 net loss widens to Rs 799 crore; revenue up 31%

New Indian Express  

Food delivery platform Swiggy on Wednesday reported a net loss of Rs 799 crore in the third quarter ended December 2024, compared to Rs 575 crore loss it reported in the year-ago period. Its revenue from operations grew 31% in the December quarter to Rs 3,993 crore compared to Rs 3,049 crore in the same quarter last year. Its food …

For Zomato, chasing too much growth in q-commerce may be causing indigestion
1 month, 3 weeks ago

For Zomato, chasing too much growth in q-commerce may be causing indigestion

Live Mint  

Zomato Ltd faced double trouble in the December quarter as its two main businesses – food delivery and quick commerce — drastically fell short of expectations. Food delivery GOV came in at ₹9,913 crore in Q3, up 2.3% sequentially, which also means growth rate halved from 4.6% seen in Q2. Thus, Zomato’s long-term goal of clocking 20% year-on-year growth in …

Zomato shares continue to slump for 2nd day; plunge 12 pc
1 month, 3 weeks ago

Zomato shares continue to slump for 2nd day; plunge 12 pc

Live Mint  

New Delhi, Jan 21 Shares of food tech unicorn Zomato plummeted 12 per cent in the morning trade on Tuesday after the food delivery aggregator reported a 57.2 per cent drop in consolidated net profit for the December quarter to ₹59 crore. Meanwhile, shares of Swiggy also declined over 10 per cent on the stock exchanges after its peer competitor …

Swiggy shares crack 11% to 8-week low, post worst 1-day drop since listing. Here’s why
1 month, 3 weeks ago

Swiggy shares crack 11% to 8-week low, post worst 1-day drop since listing. Here’s why

Live Mint  

Swiggy, the popular food delivery aggregator, saw its shares tumble 11 per cent in Tuesday's trade, hitting an 8-week low of ₹427 apiece after the company's director competitor Zomato posted a weak set of numbers for the December ending quarter, raising concerns among investors. Following the weak set of numbers, analysts cut their target price on Zomato, causing the stock …

Undeterred by 57% profit decline, Zomato to accelerate Blinkit expansion
1 month, 3 weeks ago

Undeterred by 57% profit decline, Zomato to accelerate Blinkit expansion

Live Mint  

Zomato Ltd will continue to floor the accelerator on its Blinkit expansion, burning cash to reach 2,000 dark stores a year ahead of target even as the quick-commerce business plunged its third-quarter profit. The higher capex is also the key reason behind the quarterly increase in depreciation,” said Albinder Dhindsa, chief executive of Blinkit, adding that the quick-commerce business will …

Zomato stock down 21% from 52-week high amid market pessimism: Should you buy, sell, or hold to build sizable positions?
2 months ago

Zomato stock down 21% from 52-week high amid market pessimism: Should you buy, sell, or hold to build sizable positions?

Live Mint  

Zomato stock check: The stock price of leading food delivery app Zomato is currently trading 21 per cent below its 52-week high mark of ₹304.50 amid the current pessimism in the Indian stock market over persistent foreign capital outflows and stretched valuations. Zomato's stock faces investor concerns about accelerated investments in Blinkit’s supply chain and rising competitive pressures in quick …

Zomato’s losing steam and the Blinkit drag
Trending News
2 months, 1 week 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
2 months, 1 week 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 …

Is Zomato's dream stock market run over?
2 months, 1 week 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, …

JPMorgan says Swiggy an ‘underappreciated winner’, sees 25% upside in stock price
2 months, 3 weeks 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 …

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

Swiggy share price hits all-time high today. Here's what drove the rally
3 months ago

Swiggy share price hits all-time high today. Here's what drove the rally

India Today  

Swiggy shares surged to a new record high on December 16 after domestic brokerage Axis Capital initiated coverage on the food delivery and quick-commerce platform with a strong recommendation. BROKERAGE VIEW Axis Capital’s report highlighted Swiggy as a strong investment opportunity, calling it India’s second-largest player in the food delivery and q-com space. RISKS TO WATCH While Axis Capital is …

Swiggy plans fee hike for Instamart, eyes higher take rate from grocery delivery business
3 months, 1 week ago

Swiggy plans fee hike for Instamart, eyes higher take rate from grocery delivery business

Live Mint  

E-commerce platform Swiggy is looking to hike its fees for Instamart, its grocery delivery arm, CFO Rahul Bothra told reporters after the company's analyst call on December 3, according to a Financial Express report. Over time there is expectation to increase the delivery fee.” Plans for Instamart Business He did not specify a timeline for when the fee hike could …

Swiggy and Zomato shares hit all-time high today. Can they deliver more returns?
3 months, 1 week 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 …

Swiggy to increase Instamart delivery charges? Here's what we know
3 months, 2 weeks ago

Swiggy to increase Instamart delivery charges? Here's what we know

Hindustan Times  

Food delivery giant Swiggy is likely to increase the delivery fees on its quick commerce arm Instamart, Money Control reported citing the company's chief financial officer Rahul Bothra. Meanwhile, quick commerce market leader Blinkit, which is owned by Zomato, collects a delivery fee on every order and doesn't have a loyalty programme. Zepto, the other major quick commerce player, also …

Can Swiggy’s Instamart spice it up in quick commerce?
3 months, 2 weeks 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 …

Swiggy share price jumps 7% after Q2 results. Should you buy or avoid?
Trending News
3 months, 2 weeks ago

Swiggy share price jumps 7% after Q2 results. Should you buy or avoid?

India Today  

Shares of Swiggy surged nearly 7% on Wednesday to touch Rs 534.85 on the Bombay Stock Exchange after the company announced robust Q2 FY25 earnings, driven by strong performance in food delivery and quick commerce. The food delivery business achieved adjusted EBITDA profitability of Rs 112 crore at a 1.6% margin, with GOV rising 5.6% QoQ to Rs 7,191 crore. …

Swiggy likely to increase delivery charge on Instamart orders: Report
3 months, 2 weeks ago

Swiggy likely to increase delivery charge on Instamart orders: Report

India Today  

Food and grocery delivery platform Swiggy is considering increasing the delivery fees for its quick commerce arm, Instamart, reported moneycontrol.com. Unlike Swiggy, Blinkit does not offer free delivery for any orders, while Zepto waives fees for loyalty program members. Bothra also highlighted additional measures to boost margins, including increasing platform fees for food delivery orders and monetising Instamart through Swiggy …

Swiggy plans to add over 430 Instamart dark stores by March, eyes contribution break-even next year
3 months, 2 weeks ago

Swiggy plans to add over 430 Instamart dark stores by March, eyes contribution break-even next year

Live Mint  

Newly listed food and grocery delivery firm Swiggy is looking to increase its Instamart dark store count from around 600 to nearly 1,046 by March 2025 as well as increase their average size by 30-35% to keep up with the growing demand for wider assortment in the highly competitive quick commerce sector. Overall, Swiggy expects to more than double its …

Swiggy Q2: Losses Narrow To Rs 626 Crore, Firm Clocks 30 Per Cent Jump In Revenue
3 months, 2 weeks ago

Swiggy Q2: Losses Narrow To Rs 626 Crore, Firm Clocks 30 Per Cent Jump In Revenue

ABP News  

Food and grocery delivery firm Swiggy reported a revenue of Rs 3,601.5 crore in the July-September quarter, logging a gain of 30 per cent from Rs 2,763.3 crore reported in the corresponding period a year earlier. The online delivery company’s loss stood at Rs 626 crore in the second quarter of the current fiscal year 2024-25, narrowing 5 per cent …

Swiggy Q2 Results: Net loss narrows to ₹625.5 crore in first earnings post IPO, revenue up 39% YoY
3 months, 2 weeks ago

Swiggy Q2 Results: Net loss narrows to ₹625.5 crore in first earnings post IPO, revenue up 39% YoY

Live Mint  

Swiggy Q2 Results: Food and grocery delivery platform Swiggy announced its July-September quarter results for fiscal 2024-25 on Tuesday, December 3, reporting a consolidated net loss of ₹625.5 crore driven by robust order growth in both its food delivery and quick commerce segments, compared to a loss of ₹657 crore in the corresponding period last year. Swiggy's revenue from operations …

Swiggy share price zooms 10% to new peak ahead of Q2FY25 numbers, up 39% from IPO price
3 months, 2 weeks ago

Swiggy share price zooms 10% to new peak ahead of Q2FY25 numbers, up 39% from IPO price

Live Mint  

Swiggy, the popular food delivery aggregator and a direct competitor to Zomato, saw its shares spike 10 per cent in Tuesday's trade, reaching a fresh high of ₹541.95 per share. It believes the stock is priced at a 35 per cent to 40 per cent discount to Zomato and sees room for this valuation gap to narrow as Swiggy demonstrates …

Swiggy Q2 results: Net loss narrows to Rs 625.5 crore in 1st earnings after IPO
3 months, 2 weeks ago

Swiggy Q2 results: Net loss narrows to Rs 625.5 crore in 1st earnings after IPO

India Today  

Food delivery giant Swiggy, which debuted on the stock market in November, reported a consolidated net loss of Rs 625.5 crore for the September quarter, a slight improvement from the Rs 657 crore loss in the same period last year. Swiggy’s gross order value increased by 30% YoY to Rs 11,306 crore, while its platform’s average monthly transacting users rose …

Explained: Why Swiggy share price gained in early trade today
3 months, 2 weeks ago

Explained: Why Swiggy share price gained in early trade today

India Today  

Shares of Swiggy Ltd gained sharply in early trade on Tuesday as investors are eagerly waiting the release of the company’s second-quarter results. The surge comes amid heightened interest in Swiggy's growth trajectory, with reports suggesting the food and quick-commerce platform has expanded its 10-minute delivery service, Bolt, to over 400 cities. On the technical front, Swiggy’s stock showed resistance …

Zomato CEO Deepinder Goyal’s advice to Swiggy: ‘Competent people can’t recognise they are complacent, don’t…’
3 months, 3 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 …

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

Swiggy share price falls 3% after listing. Should you buy or avoid?
Trending News
4 months ago

Swiggy share price falls 3% after listing. Should you buy or avoid?

India Today  

Swiggy's share price dipped over 3% on its second day of trading on Thursday. According to HDFC Securities, Swiggy’s growth may trail Zomato for another 4-6 quarters unless it strengthens its monthly transacting user base, a key driver of gross order value growth. HDFC Securities highlighted that Swiggy’s order density and average order value lag significantly, translating into higher fixed …

Zomato Welcomes Swiggy to Stock Market With Warm Post as it Makes Debut
4 months 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, …

Rival Zomato's CEO congratulates Swiggy on stock market listing
4 months ago

Rival Zomato's CEO congratulates Swiggy on stock market listing

The Hindu  

In a kind gesture, Zomato CEO Deepinder Goyal on Wednesday congratulated rival Swiggy on its stock market debut, whose shares got listed at a premium of nearly 8% on the NSE. Couldn't have asked for a better company to serve India with.," Mr. Goyal said in a post on X, tagging another post by Zomato which said, "You and I. …

Swiggy IPO: Congrats on the listing, says Zerodha’s Nithin Kamath, hopes to see more homegrown brands going public
4 months ago

Swiggy IPO: Congrats on the listing, says Zerodha’s Nithin Kamath, hopes to see more homegrown brands going public

Live Mint  

Zomato extended a rare public gesture of goodwill to its long-time competitor, Swiggy, as the latter launched its highly anticipated initial public offering on Wednesday, November 13. The tweet included an image of Zomato and Swiggy delivery personnel standing together, gazing at the Bombay Stock Exchange building, adorned with a “Now Listed Swiggy” banner. Couldn't have asked for a better …

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

Swiggy IPO allotment status released: What GMP indicates ahead of listing date
4 months ago

Swiggy IPO allotment status released: What GMP indicates ahead of listing date

Hindustan Times  

Shares of food delivery giant Swiggy will be listed on the exchanges on Wednesday, November 13, after its high-profile IPO launch last week. The Swiggy Limited's logo is seen at a press conference during which its Initial Public Offering was announced in Mumbai, India, October 30, 2024 According to the report, its grey market premium is just ₹1, which is …

India finds Zomato, Swiggy food delivery businesses breached antitrust laws, documents show
4 months, 1 week 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. …

Swiggy vs Zomato: Should you apply for Swiggy IPO or buy rival Zomato shares? Analysts weigh in
4 months, 2 weeks 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 …

Swiggy IPO: Food delivery startup likely to command lower valuation than Zomato shares, say analysts
5 months, 2 weeks ago

Swiggy IPO: Food delivery startup likely to command lower valuation than Zomato shares, say analysts

Live Mint  

Swiggy IPO: Food delivery giant Swiggy has recently filed its draft red herring prospectus with the capital market regulator Sebi to raise funds via initial public offering. Analysts expect Swiggy will likely command a lower valuation compared to its rival, Zomato, as the Deepinder Goyal-led firm has consistently outpaced the IPO-bound company in key metrics such as average order value, …

Zomato Surges 8% After JPMorgan Hikes Target Price; Check Details
6 months, 1 week 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
6 months, 3 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?
7 months, 1 week 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 Q1 results: Zomato net profit up 126 times to ₹253 crore in April-June quarter; revenue rises 74%
7 months, 2 weeks 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 and Swiggy hike platform fees, food delivery to become costlier in select cities
8 months ago

Zomato and Swiggy hike platform fees, food delivery to become costlier in select cities

Hindustan Times  

Food delivery giants Zomato and Swiggy have hiked their platform fees, which can lead to costlier food deliveries, the Economic Times wrote, adding that the fees have been hiked to ₹6 from ₹5, which is a 20% increase. Zomato and Swiggy hike platform fees for key markets like Delhi and Bengaluru, as the near food delivery services duopoly looks to …

Zomato Q4 results today: Expect net profit to rise 58% to ₹218 crore, revenue growth seen at 6% QoQ
10 months ago

Zomato Q4 results today: Expect net profit to rise 58% to ₹218 crore, revenue growth seen at 6% QoQ

Live Mint  

Zomato is estimated to deliver a strong earnings growth during the fourth quarter of FY24 led by healthy food delivery and hyperpure business. The online food delivery platform Zomato is expected to report 6% sequential consolidated revenue growth at ₹3,486.8 crore for the quarter ended March 2024, as per average estimates. In Food Delivery business, JM Financial forecasts sequential Gross …

Swiggy offers 20% discount to High Net Worth Individuals in pre-IPO deal: Report
11 months, 1 week ago

Swiggy offers 20% discount to High Net Worth Individuals in pre-IPO deal: Report

Live Mint  

Food delivery app Swiggy, which is gearing up for initial public offerings, is offering high-net-worth individuals to purchase its shares at a 20 per cent markdown from its present valuation, according to a report by Entrackr. According to the report, Swiggy's appointed financial advisors are "proposing shares priced at ₹350 each, valuing the company at ₹80,000 crore." Previously, according to …

Swiggy teases doubling platform fee, likely to offset losses ahead of planned IPO
1 year, 1 month ago

Swiggy teases doubling platform fee, likely to offset losses ahead of planned IPO

Live Mint  

Bengaluru-based food delivery aggregator and grocery shopping unicorn Swiggy is testing a possible doubling of its platform fee from ₹5 to ₹10 per food order, as per a Moneycontrol report. The competitive landscape includes Zomato, which initially stated no intention to introduce a platform fee but later followed Swiggy's path. Earlier in October last year, Swiggy hiked the platform fee …

Swiggy’s GMV reaches $1.43 billion in 1H24; here’s what brokerages say
1 year, 3 months 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 …

India's Zomato posts first-ever profit earlier than expected
1 year, 7 months ago

India's Zomato posts first-ever profit earlier than expected

The Hindu  

India's Zomato posted its first-ever profit on Thursday, one quarter earlier than expected, helped by a tax gain and strong orders in its food and grocery delivery businesses. Zomato expected to hit this milestone in the September quarter, said Chief Financial Officer Akshant Goyal, adding that they were being conservative with that guidance. Gross order value — the total value …

After Zomato, Swiggy Likely to Lay Off 250 Employees This Month
2 years, 3 months ago

After Zomato, Swiggy Likely to Lay Off 250 Employees This Month

News 18  

After Zomato, Swiggy may lay off more than 250 employees or up to 5 per cent of its workforce starting this month. Last month, global brokerage firm Jefferies said that Swiggy was fast losing market share to its rival Zomato despite offering heavy discounts. Citing Swiggy investor Prosus’ financial report, Jefferies said that the gross value of Swiggy’s food delivery …

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