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India.com
7 days ago
- Business
- India.com
Masterstroke by Amazon as company officially enters quick commerce race with…, Blinkit, Zepto, and Swiggy Instamart plan to…
New Delhi: In a major development, e-commerce giant Amazon has launched its Amazon Now service in three pin codes of Bengaluru. Amazon Now, which is the company's official entry into the ultra-fast delivery segment, will now compete with rivals Blinkit, Zepto, and Swiggy Instamart which already dominate the market. According to a Moneycontrol report, the launch follows a pilot that began in December 2024 and indicates the company's intention to regain market share, as Indian consumers increasingly move from traditional 1–2 day deliveries to rapid 10–30 minute deliveries for daily essentials and groceries. The American e-commerce giant is likely to expand the service to other places in Bengaluru in coming weeks before scaling it to other cities. It is important to note that Amazon NOW's entry comes at a time when quick commerce platforms are not only witnessing quick adoption but are also starting to capture the share of legacy e-commerce players like Flipkart and Amazon itself. According to a recent report by Flipkart and Bain & Company, over two-thirds of online grocery orders and about 10 percent of overall e-retail spending in 2024 occurred on quick commerce platforms. To recall, Eternal (formerly Zomato) founder Deepinder Goyal earlier had said that the quick commerce firms were burning over Rs 5,000 crore each quarter—with Zepto alone accounting for more than half of that. Industry leaders have already been bracing for a more competitive phase. 'Our view is that competition is going to intensify further from here in the near term…We will aggressively look to grow our market share, especially in the face of heightened competition, and will not let any short-term profitability goals come in the way of that,' Eternal CFO Akshant Goyal said in a letter to shareholders following its Q4FY25 results.
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Business Standard
03-06-2025
- Business
- Business Standard
Eternal up 2% on heavy volumes; Morgan Stanley maintains overweight rating
Eternal share price: Food aggregator Eternal, formerly known as Zomato, shares rose as much as 1.92 per cent to hit an intraday high of ₹245.95 per share on Tuesday, June 3, 2025. However, at 11:30 AM, Eternal shares were trading 0.75 per cent lower at ₹239.50 per share. In comparison, BSE Sensex was trading 0.46 per cent lower at 80,998.58 levels. Triggers behind the uptick in Eternal share price Eternal's share price surged in trade today, driven by strong volumes and a bullish outlook from Morgan Stanley. By 11:30 AM, trading activity was robust, with 10.95 million shares changing hands on the BSE worth ₹266.99 crore. On the NSE, volume was even higher, with 40.59 million shares traded worth ₹985.60 crore. Another major catalyst for the rally was Morgan Stanley reiterating its 'Overweight' rating on the stock, maintaining a target price of ₹320 per share. The brokerage also reaffirmed Eternal as its top pick, citing the company's market leadership in both food delivery and quick commerce segments, as well as a favourable risk-reward profile. Also Read: Eternal Q4 results Eternal's consolidated profit dropped 77.7 per cent year-on-year (Y-o-Y) to ₹39 crore in the March quarter of financial year 2025 (Q4FY25), from ₹175 crore in the March quarter of financial year 2024 (Q4FY24). The revenue from operations, also known as topline, climbed 63.8 per cent Y-o-Y to ₹5,833 crore in Q4FY25, from ₹3,562 crore a year ago (Q4FY24). At the operating level, earnings before interest tax depreciation and amortisation (Ebitda) dropped 16.3 per cent annually to ₹72 crore in Q4FY25, from ₹86 crore in the same quarter a year ago. About Eternal Eternal (formerly known as Zomato) is a leading global food-tech platform that connects users with a wide range of restaurant services, including restaurant discovery, online food ordering, and table reservations. Founded in 2008 by Deepinder Goyal and Pankaj Chaddah under the name Foodiebay, the company was later rebranded as Zomato (now Eternal). It began by offering restaurant listings and menu information, gradually evolving into a comprehensive platform catering to various aspects of the food and dining industry. Over the years, Zomato has expanded its services to include food delivery, grocery delivery, and other related verticals.
Hindustan Times
31-05-2025
- Automotive
- Hindustan Times
Check out the new Aston Martin DB12 Volante Palm Beach edition serving looks in ‘Frosted Glass Blue'
The Palm Beach Edition of the Aston Martin DB12 Volante has been created in collaboration with the brand's customisation arm called 'Q'. Check Offers Aston Martin Palm Beach, in collaboration with the brand's bespoke division Q by Aston Martin, has revealed a unique version of the DB12 Volante, designed to reflect themes inspired by the Palm Beach region. Aston Martin DB12 Volante Palm Beach Edition: Exterior This special edition DB12 Volante features a Frosted Glass Blue exterior, a Q-exclusive paint that uses fine glass flakes in the topcoat to produce a shimmering effect. Due to the complexity of the finish, it can only be applied by hand. The vehicle also includes Club Sport White pinstripes along the front splitter, side sills, and rear bumper and rides on Gloss Jet Black diamond-turned wheels. Exterior details such as aluminium side strakes also reference the palm motif. Also Read : Zomato CEO Deepinder Goyal buys India's first Aston Martin DB12 worth ₹ 4.59 crore Aston Martin DB12 Volante Palm Beach Edition: Interior Inside, the car adopts a nautical-themed duotone leather interior in Aurora Blue and Ivory, accented with Spicy Red stitching. A recurring palm-leaf motif appears throughout the cabin, including on the seat embroidery, centre armrest, and door sills. The dashboard features Palm Beach's geographic coordinates, while open-pore Linear Light Olive Ash wood trim was selected to resemble the texture of palm wood. Metal inlays on the seat backs are engraved with the words 'Palm Beach.' The interior features light shades along with premium wooden finishing, Pedro Mota, Regional President of Aston Martin The Americas, said the collaboration highlights the design flexibility offered by the Q by Aston Martin service. 'We have created an exceptional sports car that merges performance, artistry and luxury," Mota stated. Q by Aston Martin specialises in tailor-made commissions, offering clients a wide range of customisation options—from colour schemes to unique interior detailing. The Palm Beach Edition is one example of how local identity and personal preferences can shape the final design. While the car remains a one-off project, it reflects the growing trend of ultra-personalised vehicles among high-end manufacturers, especially in markets like South Florida, where luxury cars are often seen as extensions of individual style. Aston Martin DB12 Volante Palm Beach Edition: Engine and performance The engine inside is the same, AMG-sourced 4-litre V8 unit with a twin-turbo producing 662 bhp of power and 800 Nm of peak torque. This power is channelled to the rear axle through an eight-speed ZF automatic transmission, assisted by an electronic rear differential. It can achieve an acceleration of 0-100 kmph in just 3.7 seconds, trailing the coupe by only 0.1 seconds. It gets a top speed of 325 kmph. Check out Upcoming Cars in India 2024, Best SUVs in India. First Published Date: 31 May 2025, 15:30 PM IST
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Business Standard
23-05-2025
- Business
- Business Standard
Zepto pays ₹95 crore in April salaries, rivals Swiggy on employee costs
Quick commerce platform Zepto disbursed ₹95 crore in salaries to its 3,000-strong workforce in April, according to a report by Moneycontrol. This figure, though lower than the ₹115-120 crore reported in March and ₹105-110 crore in January and February, reflects the company's growing fixed costs. The increase in employee expenses highlights Zepto's aggressive hiring and compensation strategy. The report said that the company often offers salaries 2-3 times the industry average to attract top-tier talent. The March salary spike was partly attributed to the company's relocation of employees from Mumbai to Bengaluru and the associated expenses of moving into a new office. April's payout suggests a return to baseline levels. High wage bills draw industry attention The scale of Zepto's salary bill has drawn comparisons with established competitors. 'Zepto's employee costs of about ₹100 crore is already 80 per cent of what Swiggy pays out, despite the latter being a much larger organisation,' a source said, as quoted by the report. Facing off against industry majors Zepto competes with Blinkit and Swiggy Instamart in the grocery and essentials delivery segment. The firm has also entered the food and beverages space through Zepto Cafe, where it competes with Eternal (formerly Zomato) and Swiggy. Eternal, which rebranded from Zomato and operates a wider array of services including Blinkit, has over 5,000 employees and pays out ₹160-170 crore in monthly wages. 'Zomato has over 5,000 employees and pays around ₹160-170 crore in wages each month but Zepto, which is at a much smaller scale, paid ₹100 crore,' a source said, as quoted by the report. Cash burn concerns and industry scrutiny Last year, Zepto was reportedly burning ₹250-300 crore monthly, raising eyebrows among rivals. Eternal's co-founder Deepinder Goyal claimed in March that quick commerce players were collectively burning ₹5,000 crore per quarter, with Zepto allegedly responsible for more than half. Zepto CEO Aadit Palicha dismissed these claims as 'verifiably untrue'. With Blinkit, Swiggy Instamart, and Zepto locked in fierce competition, companies are increasing compensation packages, ESOPs, and incentives to attract top performers. Talent is also being poached from giants like Flipkart and Amazon as these firms race to expand rapidly. In this high-stakes battle, swelling salary bills have become the new norm. Firm launches 'Zepto Atom' Zepto Atom will be accessible via a standalone website and mobile application, and is positioned as a comprehensive tool for businesses seeking to enhance their understanding of customer preferences and improve performance on the platform. The platform will enable brands to access data such as pin code-wise market share, allowing for hyperlocal insights into how products are performing in specific areas.
Time of India
23-05-2025
- Business
- Time of India
How Swiggy and Zomato are dealing with the slowdown in food delivery
The food delivery market in India, dominated by Zomato and Swiggy , is experiencing a slowdown. The rise of quick commerce and limited discretionary spending are among the reasons for the sluggish demand environment. In such a situation, both companies are undertaking measures to address the tepid demand in food delivery. Zomato Food delivery stayed in the slow lane for Zomato in the March quarter. Parent Eternal reported a steep 78% year-on-year (YoY) fall in net profit to Rs 39 crore, as losses from its quick commerce arm Blinkit continued to burden the bottomline. Food delivery, still Eternal's largest business grew slowly and CEO Deepinder Goyal attributed this to weak discretionary spends and the rising influence of quick commerce on both operations and demand. Zomato has taken multiple steps to address the slowdown: Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories No more quick: Eternal shut down its 15-minute food delivery service Quick and homely meals segment Everyday, as both services failed to muster enough demand. Current restaurant density and kitchen infrastructure are not conducive to 10-minute food delivery, which leads to inconsistent customer experience, Goyal said. Push for Bistro: The company will promote Blinkit's Bistro , which competes with the likes of Zepto Cafe. The service, which operates via in-house kitchens, is being expanded across Delhi-NCR, Bengaluru, and Mumbai. Bistro now runs more than 100 kitchens in these markets. Rain fee waiver ends: In a recent update, Zomato revealed a new 'rain fee' that will now apply even to its Gold subscription members. Previously exempt, these premium users will now face an extra charge for deliveries during inclement weather. Swiggy's strategy In the March quarter, Swiggy saw its net loss almost double to Rs 1,081 crore , due to the aggressive expansion of its quick commerce network, which added nearly four dark stores per day. The broader slowdown did not spare Swiggy , and saw its food delivery business grow 17.6% YoY in terms of GOV — the lower end of its 18-22% growth guidance. However, this was faster than Zomato's 16% on-year growth in GOV in the same segment. Here's what Swiggy is doing: Bolt expansion: Swiggy is focussing on its quick food delivery offering, Bolt, where it aggregates restaurants for 10-15-minute order fulfilment. It said that during the quarter, Bolt contributed 12% to the company's overall food delivery volumes. It has expanded to 500 cities. New products: Swiggy introduced a new feature called 'Drops' , offering customers access to exclusive, limited-edition dishes created by some of the country's leading chefs. This feature offers a dual benefit: For customers, it provides early access to experimental and innovative dishes; for Swiggy's restaurant partners, it serves as a platform to test new offerings and cultivate deeper customer loyalty. Swiggy also launched an exclusive discount programme for students, which allows them to subscribe to Swiggy One and One Lite programmes at a discounted rate.
