Food Delivery News - Latest Updates & Headlines
Zomato denies reports about food delivery CEO Rakesh Ranjan's resignation
New Delhi, April 24: Eternal (Zomato) on Thursday clarified that Rakesh Ranjan, the CEO of its food delivery business, has not resigned from his position.
Swiggy gets 1st 'sell' rating since listing from Ambit Capital
New Delhi, April 23: Swiggy Limited has received its first 'sell' rating since it was listed in November 2024, with analysts raising concerns about its falling position in both food delivery and quick commerce services.
Swiggy shares tank 38 pc this year amid mounting losses, slowing growth
Mumbai, April 15: Swiggy's share price has taken a sharp hit this year by plunging 38.32 per cent year-to-date (YTD) on the National Stock Exchange (NSE), as investor sentiment weakens over the company's rising losses and margin pressures.
Swiggy faces tax demands worth over Rs 165 crore, says no major financial impact
New Delhi, April 6: Online food and grocery delivery platform Swiggy is facing fresh tax troubles after receiving two assessment orders related to the financial year 2021-22.
Zomato's food delivery COO Rinshul Chandra resigns
New Delhi, April 6: Eternal Limited, the company formerly known as Zomato, has announced that Rinshul Chandra, the Chief Operating Officer (COO) of its food ordering and delivery business, has resigned.
Zomato cuts up to 600 jobs in customer support amid slowdown: Report
New Delhi, April 1: Zomato, the popular online food delivery platform, has reportedly laid off up to 600 customer support employees, just a year after hiring them.
BofA downgrades Zomato and Swiggy, cites slowing growth, high competition
Mumbai, March 26: Bank of America (BofA) has downgraded its ratings on Zomato and Swiggy, citing concerns over slowing growth in food delivery and rising competition in quick commerce.
Swiggy's profitability under pressure despite strong market position: Jefferies
Mumbai, March 12: Food delivery platform Swiggy continues to face profitability challenges despite its strong market presence, according to a Jefferies report on Wednesday.
Tax relief to act as catalyst for Indian quick service restaurant businesses: Goldman Sachs
New Delhi, February 19: The tax relief announced in the Union Budget will act as a catalyst for the quick service restaurant (QSR) businesses in India, which has seen the beginning of a cyclical upturn in the October-December quarter, multinational investment banking company Goldman Sachs said.
Swiggy's shares tank for 4th straight day, slip below IPO price
Mumbai, Feb 7: Following a decline for the fourth consecutive day, shares of online food aggregator Swiggy on Friday slipped below its initial public offering (IPO) issue price of Rs 390.
Zomato to be renamed 'Eternal'; platform unveils new logo, aims for lasting legacy beyond food delivery
New Delhi, February 6: Zomato Ltd on Thursday announced that its board has approved the change of name of the company to Eternal Ltd., marking a significant transformation in its corporate identity.
Swiggy's loss widens 39 pc to Rs 799 crore in Q3
New Delhi, Feb 5: Zomato's rival Swiggy on Wednesday reported a Rs 799.08 crore net loss in the October-December period (Q3 FY25), as compared to a loss of Rs 625.53 crore in the previous quarter.
Indian food services market projected to reach up to $152 billion by 2030
Bengaluru, Jan 29: The Indian food services market, valued at $80 billion in 2024, is likely to grow at a compound annual growth rate (CAGR) of 10-11 per cent to reach $144-152 billion by 2030, according to a report on Wednesday.
Score Big with Free Pizza from 7-Eleven for Football Fans
Irving, Texas, Jan 23: In a move to uplift football fans feeling down about their team's absence in the Big Game, 7-Eleven is offering a delicious solution: free pizza! As the excitement builds for the championship showdown, the convenience store giant is stepping in to turn disappointment into a tasty opportunity.
7 in 10 believe private labelling by Zomato, Swiggy affecting their businesses: NRAI poll
New Delhi, Jan 22: About 70 per cent of people, who are part of the Indian hotel industry, believe that private labelling by the quick commerce platforms run by Zomato and Swiggy etc are impacting their businesses, and 69 per cent of them believe that they have no negotiation powers with respect to commissions, a poll by the National Restaurant Association of India (NRAI) showed on Wednesday.
Zomato's share hits 6-month low amid Blinkit's expansion plans
Mumbai, Jan 21: Zomato's share price dropped to its lowest point on Tuesday in nearly six months, following weak Q3 FY25 earnings.
Zomato clocks 57 pc net profit drop at Rs 59 crore in Q3
New Delhi, Jan 20: Online food delivery giant Zomato on Monday reported a 57 per cent decline in net profit (year-on-year) at Rs 59 crore in the third quarter (Q3) of FY25 -- from Rs 176 crore in the same period last fiscal.
Top industry associations slam Zomato, Swiggy over private label food delivery
New Delhi, Jan 13: The Federation of Hotel and Restaurant Associations of India (FHRAI) and the National Restaurant Association of India (NRAI) have reiterated serious concerns over online food aggregators Zomato and Swiggy's recent move to enter the private label food delivery business.
NRAI slams Zomato and Swiggy over private label food delivery via Q-com apps
Mumbai, Jan 9: The National Restaurant Association of India (NRAI) on Thursday strongly opposed the recent foray of food delivery platforms Zomato and Swiggy into private-label food delivery via their quick commerce (Q-com) apps.
Jefferies cuts Zomato stock to 'hold' as quick commerce competition heats up
New Delhi, Jan 7: Global brokerage firm Jefferies has downgraded Zomato's shares to 'hold' as it revised the target lower, citing increasing competition as a threat to the online food aggregator’s profitability.