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Zomato Q4 Results: Zomato, now known as Eternal, on Thursday, May 1, posted a sharp decline of 78% year-on-year (YoY) in its January-March quarter of the financial year 2024-25 (FY25) to ₹39 crore, largely on account of the accelerated investments in its quick-commerce business Blinkit. Moreover, the slowdown in the food delivery business also has…
Online food delivery platform Zomato’s chief executive officer (CEO) Deepinder Goyal, in a social media post, called out a user’s Reddit claim that the company has gone off the rails and said it was embarrassing for him even to issue a clarification on the viral post. “It is embarrassing to even clarify this – but…
NEW DELHI : The National Restaurant Association of India (NRAI) has approached the Delhi High Court, challenging its exclusion from the confidentiality ring set up by the Competition Commission of India (CCI) in the ongoing antitrust investigation against food delivery giants Zomato and Swiggy. The latest plea specifically challenges NRAI’s exclusion from accessing confidential documents…
In a board meeting on Monday, the management of Info Edge (India) Ltd fixed 7 May as the record date for its 1:5 stock split, in which one share with a face value of ₹10 will be split into five. This should enhance market liquidity by encouraging greater participation from retail investors. It is a…
Brokerage JM Financial, in its preview for Q4FY25, indicated that variations in corporate performances across the internet sector are anticipated due to specific trends within each segment. Although growth in food delivery for Eternal (Zomato) and Swiggy is predicted to slow down, substantial growth in quick commerce (QC) is expected to be driven by aggressive…