Foodtech major Zomato has unveiled an ‘order scheduling feature’, which will now give users an option to schedule deliveries from two hours to two days in advance.
“This feature is now available at more than 35,000 restaurants across 30 cities – Delhi, Bengaluru, Mumbai, Pune, Raipur, Ahmedabad, and others,” the company said in a blog post on Friday (October 25).
This comes days after the platform hiked its fee for the fourth time this year, to INR 10, ahead of the festive season.
Notably, Zomato’s rival Swiggy already has a similar service called ‘Swiggy Scheduled,’ which was initially launched in 2018.
The company has also received to raise INR 8,500 Cr (around $1 Bn) through a qualified institutional placement (QIP).
However, after five consecutive quarters of profit growth, the which fell to INR 176 Cr in the latest quarter from INR 253 Cr in the previous June quarter.
This quarter-on-quarter (QoQ) decline was driven by rising expenses. However, on a year-on-year (YoY) basis, profits surged 389% from INR 36 Cr in Q2 FY24.
Despite the profit slump, Zomato’s offline business saw rapid growth this quarter, partly due to its recent acquisition of Paytm Insider.
Meanwhile, in the highly competitive quick commerce space, Zomato is battling players like Swiggy Instamart, Zepto, and Tata-owned BigBasket, as well as new entrants like Reliance’s JioMart and Flipkart’s Minutes.
Notably, Zomato’s Blinkit recently lost market share in the Delhi NCR region, dropping from 47% to 42%.
The post appeared first on .
You may also like
Gary Neville urges Thomas Tuchel to hand forgotten England star shock recall after four years
Missing dog who travelled miles across hills and rivers found after 17 days thanks to drone
BJP releases second list of 22 candidates for Maharashtra Assembly polls
Tamil superstar Vijay's TVK to hold first state conference tomorrow
McCullum Praises Pakistan's Spin Mastery, Calls England's Loss A 'missed Opportunity'