18-July-2024
Corporate News
 
Blinkit will outpace Zomato’s food delivery business: Analysts
12-Feb-2024

While Zomato’s food delivery business posted a nearly 30% year-on-year growth in sales in the October-December quarter, analysts maintain that going ahead its quick-commerce arm Blinkit, will outpace the food delivery business. During the quarter, Blinkit doubled its sales while staying on its path to profitability. Analysts are confident that quick commerce is seeing rapid adoption in India, with Blinkit on track to lead this growth. Brokerage firm, Nomura expects Blinkit’s gross order value to be higher than that of the food delivery business by FY28 and its long term profitability to be at par with food delivery segment driven by higher scope for ad monetisation.

News Source:- https://www.financialexpress.com/business/industry-blinkit-will-outpace-zomatos-food-delivery-bsuiness-analysts-3389814/