EARNINGS DELIVERY
Zomato shares gain 15%, remain unbeaten for 5 sessions
Zomato Share Price: Zomato shares surged 15.5% to a record high of Rs 280.60, driven by a Paytm deal, positive broker ratings, and strong earnings growth. Jefferies targets Rs 335, predicting significant delivery revenue growth.
Meet Sonu, the Delhi 'delivery dad' who travels hundreds of kilometres with his son for a better future
Sonu, a 23-year-old food delivery rider in Delhi, travels hundreds of kilometres daily with his two-year-old son, Sarthak, to secure a better future. Originally from Bihar, Sonu juggles his job and fatherhood after his wife returned to her hometown. Despite earning just Rs 500 daily and facing numerous challenges, Sonu remains committed to providing for his son and ensuring he has a brighter future.
Earnings cuts in QSRs seen in the last six months likely to continue: Kunal Vora
Kunal Vora from BNP Paribas discusses market fragmentation due to the rapid growth of food aggregators, affecting QSR companies' performance. Expectations remain high with 15-20% revenue growth and margin expansion, but recent trends show slower growth and intense competition. Earnings cuts are anticipated as the sector continues to face challenges.
Moody's maintains stable outlook for Tata Steel, expects improved earnings over next 2 fiscals
Moody's Rating on Wednesday said it has maintained a stable outlook on Tata Steel, expecting the domestic steel major to improve its earnings over the next two financial years.
Quick-commerce vs e-commerce: Ready for the new pricefight in town?
Quick-Comm operators like Blinkit, Swiggy Instamart, and Zepto matched prices with major ecommerce platforms Amazon and Flipkart, aiming to attract consumers. This strategy marked a shift from their previous 10-15% premium charges for instant deliveries. The move has triggered a price war and increased competition for faster services in the home delivery market.
BookMyShow vs Zomato; Swiggy valued at $11.5 billion
Happy Friday! BookMyShow may face intense competition from Zomato following its acquisition of Paytm's ticketing business. This and more in today’s ETtech Morning Dispatch.
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Quick commerce companies increase weight that can be delivered per order as consumers opt for larger packs
Large fast moving consumer goods (FMCG) companies also want to initiate sales of such packs through quick commerce as they do not want to miss out on the sales opportunity.
Happy meals not making Indians happy anymore? McDonald's, Burger King & other QSR brands losing their mojo in India
Interest in international quick service restaurant (QSR) chains like McDonald’s, Burger King, and Pizza Hut is waning among Indians, prompting these brands to focus on value offerings to attract customers. The rise of modern food brands backed by venture capital and the popularity of food delivery platforms like Zomato and Swiggy have intensified competition, making it harder for global QSR giants to draw in diners.
Singapore's Grab misses quarterly revenue estimates, shares drop
Grab Holdings failed to meet second-quarter revenue predictions, affected by a slowdown in its food-delivery segment and currency fluctuations. The company's deliveries and ride-share revenues grew but did not meet expectations. Despite these challenges, Grab retained its full-year revenue forecast, signaling confidence in future growth through investments in new products.
After extreme summer, delivery firms taking steps to protect workers from rain fury
Logistics and delivery companies are implementing measures to support delivery partners in northern India during the monsoon season, offering incentives, protective gear, and rain surge pay to ensure continuity of operations. Zepto and Zomato are among the companies providing support, with initiatives such as 'Mega Monsoon Dhamaka 2024' and distributing weather-proof raincoats. This year, delivery partners have seen a 15-20% increase in earnings due to the surge in orders and improved support from their companies.
Zepto set for another $310 million funding delivery, Mars Growth to join
Zepto, a leading quick commerce firm, will raise $310 million at a valuation of $5 billion, as per sources. Investors in this round include Mars Growth Capital and General Catalyst. This funding comes weeks after a recent $665 million raise done by the q-commerce major. Zepto aims to expand its services amidst competition from Blinkit, Swiggy Instamart, and Flipkart Minutes.
Jubilant FoodWorks Q1 Results: Profit plunges 31% YoY to Rs 51.5 crore; revenue jumps 10%
The pizza company saw a 10% year-over-year increase in operational revenue during the quarter, reaching Rs 1,439.6 crore, primarily driven by 8.5% growth in its India operations. EBITDA rose slightly by 0.7% to Rs 278.2 crore, though margins decreased by 1.8 percentage points compared to the same period last year.
A fast guy is pushing into omnichannel game. What can happen?
Quick commerce has significantly impacted India's retail landscape, quickly becoming a key growth channel for FMCG companies. Originally doubted, services like Blinkit and Zepto now drive substantial e-commerce sales. This trend puts pressure on traditional kirana stores and is set to expand beyond groceries, potentially disrupting the retail sector further.
Mention of heatwaves at all-time high in India’s earnings calls
India faced near-record temperatures this summer as a devastating heat wave gripped most parts of the country including its financial hub Mumbai and the capital city of New Delhi.
Mention of heatwaves at all-time high in earnings calls
This summer, India experienced a severe heatwave, significantly affecting companies struggling with slowing earnings growth and supply chain disruptions. Featured prominently in Nifty 500 companies' earnings calls, the heatwave impacted footfalls at retailers, construction productivity, and loan collections. As extreme weather events increase, businesses must adapt to these growing climate challenges.
Page Industries Q1 Results: Net profit rises 4.3% YoY to Rs 165.22 crore
The revenue increased by 3.9% from Rs. 1,229.07 crores to Rs. 1,277.52 crores in the period under review. The sales volume grew by 2.6% year-on-year to 5.74 crore pieces
Bengaluru resident becomes Blinkit delivery agent for a day, her feedback leads to sweeping reforms
Sneha, who became a Blinkit delivery partner to better understand their fast delivery system, shared her experiences and recommendations in a comprehensive thread on X (formerly Twitter). Her input led the company to make several changes in response.
New-age logistics player Delhivery to launch dark stores for D2C brands
These micro warehouses will be made available to companies on a shared basis. The company will target fulfil local deliveries in a two to four-hour timeline, said cofounder and chief executive Sahil Barua.
Market confidence strong, no immediate worries for corporate earnings: Taher Badshah
Up until now what we have seen is a couple of the domestic events, whether it is the elections or the budget having panned out and market has at some level digested them reasonably well.
Tesla's bleak margins sink shares as Musk hypes everything but cars
Tesla's shares fell 12%, wiping out $100 billion in stock value. CEO Elon Musk's talk on future products couldn’t ease investors' concerns over shrinking profit margins and missed earnings estimates. Tesla's EV deliveries dropped for two consecutive quarters, forcing price cuts. Analysts doubt Tesla's ability to deploy robotaxis soon. Its market value has fallen significantly from its peak in 2021.
Swiggy, Zomato delivery agents earn more than fresher software engineers: Check out their surprising income
A recent YouTube interview by Loveena Kamath has uncovered that entry-level Swiggy and Zomato delivery agents in Bengaluru can earn more than average IT engineers. Kamath found that delivery agents like Shiva and Taiyappa make between Rs 40,000 and Rs 50,000 monthly, significantly higher than the Rs 20,000 typically earned by new IT professionals. Despite these impressive earnings, Kamath notes that delivery work is often viewed as a temporary solution rather than a long-term career.
Comedians roast Zomato for platform fees, surge pricing. How CEO Deepinder Goyal reacted?
Zomato celebrated its 16th anniversary with a unique comedy roast event, featuring comedians humorously critiquing the company's recent policies, including platform fee hikes and controversial surge pricing during rain. The event, attended by Zomato CEO Deepinder Goyal and Blinkit CEO Albinder Dhindsa, also saw the release of a creative full-page newspaper ad and a special Gold membership offer for customers.
'Your online order will be cancelled if you don't update address': Latest India Post delivery scam here, how it works, how to avoid
Online order delivery scam: A new scam has been in regard to delivering online orders in your address. What happens if fraudsters first send a SMS saying that your online order could not be delivered due to incomplete address, so here's a link to update it. When you click on the link it asks for your debit card or credit card details.
FedEx eyes fiscal 2025 profit just above Wall St target, shares soar
FedEx anticipates strong profits in fiscal 2025, considering strategic actions like potential freight business sale and ending the unprofitable postal service contract. Despite market challenges, FedEx's revenue grew amidst cost-cutting measures and operational consolidation, reflecting the company's resilience and focus on long-term sustainability.
Extreme summer heat & loss of productivity lead to an all-time high demand for delivery personnel
Extreme summer heat, rising absenteeism, and productivity loss have led to a high demand for last-mile delivery and warehouse personnel in India. About 2,000 delivery personnel are dropping off daily in quick commerce and 5,000 in food delivery, with an estimated 2.1-2.2 lakh people needed for replacement hiring daily. The monthly attrition of riders, warehouse staff, pickers, packers, and loaders is at a high of 30-40%.
ETMarkets Fund Manager Talk: Q4 results in line with expectations, domestic cyclicals leading the way: Shibani Sircar Kurian
The March quarter earnings growth was driven by BFSI, Auto, technology, and oil and gas, with smallcaps rallying on retail liquidity. Shibani Sircar Kurian discussed the risk in the broader market for FY25. Nifty companies reported 13% earnings growth. PSUs are favored pre-elections. Capex in power, defence, and infrastructure is expected to continue.
Walmart lifts full-year sales and profit forecast, shares rally
The company now expects adjusted core profit between $250 million and $270 million, compared to its earlier forecast of $180 million to $200 million.
Zomato Q4 earnings; Blinkit edges closer to profitability
Food delivery major Zomato reported a lower-than-expected quarterly profit of Rs 175 crore on Monday. Details on this and more in today’s ETtech Top 5.
Q4 results today: Zomato, Varun Beverages among 59 companies to announce earnings on Monday
59 companies, including Zomato and Varun Beverages, to reveal Q4 results for March 2024. Jindal Steel, Tube Investments, AB Capital also share earnings. Zomato expects 75% y-o-y revenue growth, 48% q-o-q net profit rise.
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