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Top related persons:
Zomato's - 1 SoftBank - 1 — - 1 Swiggy - 1
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India
Top related orgs:
India Consumer Products Distributors Federation - 1 Nestle - 1 Hindustan Unilever - 1 Competition Commission of India - 1 Blinkit - 1 Intelligence - 1 Sunday - 1

Search resuls for: "Blinkit"


2 mentions found


☆ Indian retail group seeks antitrust probe of quick commerce companies Swiggy, Blinkit, Zepto
  + stars: | 2024-10-21 | by ( ) www.cnbc.com   time to read: +2 min
Zomato's Blinkit, Zepto, and Swiggy, which runs the Instamart delivery service and is backed by SoftBank , did not respond to Reuters queries. India's biggest group of retail distributors has asked the antitrust authority to investigate three quick commerce companies — Zomato's Blinkit, Swiggy and Zepto — for alleged predatory pricing, a letter showed on Sunday. "Implement protective measures for traditional distributors and small retailers to safeguard their interests," it urged the Competition Commission of India. Annual sales on Indian quick commerce platforms are set to exceed $6 billion this year, with Blinkit having a nearly 40% market share, while Swiggy and Zepto around 30% each, research firm Datum Intelligence said. Reflecting the strength of the quick commerce sector, Zomato's shares have doubled this year and Swiggy will in the coming weeks will launch its over $1 billion IPO.
Persons: Zomato's, SoftBank, —, Swiggy Organizations: India Consumer Products Distributors Federation, Nestle, Hindustan Unilever, Reuters, Competition Commission of India, Blinkit, Intelligence, Sunday Locations: India
☆ India's Zomato posts smaller net loss as online orders jump
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 10 (Reuters) - Indian food delivery firm Zomato Ltd (ZOMT.NS) on Thursday reported a narrower loss for the second quarter thanks to a rise in volumes and value of online orders. Adjusted core loss, excluding figures for its recently acquired quick-commerce business Blinkit, narrowed to 600 million Indian rupees ($7.37 million) from 3.1 billion rupees. Gross order value - the total value of all food delivery orders placed online on Zomato's platform - jumped nearly 23% to 66.31 billion rupees, slightly below Morgan Stanley's estimate of 67 billion rupees. Revenue from operations jumped 62% to 16.61 billion rupees, with its food delivery business registering a growth of 33%. Consolidated net loss stood at 2.51 billion rupees for the three months ended Sept. 30, compared with 4.30 billion rupees a year earlier, the Gurugram-based company said in an exchange filing.
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