Zomato To Expand Blinkit: Online food delivery platform Zomato plans to expand its 10-minute delivery platform Blinkit. According to a report in the Economic Times, Blinkit will be adding various products.
Zomato To Expand Blinkit
Online food delivery platform Zomato plans to expand its 10-minute delivery platform Blinkit. According to a report in the Economic Times, Blinkit will be adding various products.
Zomato competes with Amazon and Flipkart
By expanding the company, Zomato can directly compete with e-commerce companies like Amazon and Flipkart. Zomato plans to build its own supply chain. This move into the direct-to-consumer (D2C) sector is seen as long-term growth for the company.
The company has not yet made any official announcement regarding this
Zomato had at least twice tried to acquire and merge e-commerce enabler Shiprocket as part of this strategy. According to reports, ShipRocket rejected the merger offer.
Zomato’s net profit for the December quarter
According to Zomato filings with the exchanges, the company posted a net profit of Rs 138 crore on a year-on-year (YoY) basis. While the company had posted a net loss of Rs 347 crore in the corresponding period last year (FY23Q3).
In the September quarter (FY24Q2), the company recovered from losses and posted a net profit of Rs 36 crore. Meanwhile, the company’s total revenue rose 69 percent to Rs 3,288 crore in the third quarter of the current fiscal. While it was Rs 1,948 crore in the same period a year ago (FY23Q3).
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