The shares of these two leading food aggregators, Swiggy and Eternal Delivery aggregators are down by 2.5 percent and 2 percent respectively, after Rapido announced its foray into the food delivery business. In this article, we will discuss about this announcement in detail.
According to sources, Rapido announced that it is entering into its food delivery business in Bengaluru by the end of the month. It is said to extract Rs 25 flat for orders below Rs 400 and Rs 50 flat for orders above Rs 400, implying a commission rate of 8 percent to 15 percent, which is far less than what Zomato and Swiggy charge between 15-30 percent of the total order value. The pilot phase has started, where Rapido has started onboarding restaurants. It also said discounts will be limited with only those agreed by the restaurants.
Additionally, the FDA of Maharashtra has suspended the food license of Blinkit’s Balewadi dark store in Pune after it was found to operating without an FSSAI license. The inspection on June 5 had found some food safety norm non-compliance amid considerable scrutiny of quick commerce dark stores.
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Financial Highlights
Eternal reported a revenue of Rs 20,243 crores in FY25, up by 67 percent from its FY24 revenue of Rs 12,114 crores. Coming to its profitability, it reported a net profit growth of 50 percent to Rs 527 crores in FY25 from Rs 351 crores in FY24.
On the other hand, Swiggy reported a revenue of Rs 15,227 crores in FY25, up by 35.38 percent from its FY24 revenue of Rs 11,247 crores. Coming to its profitability, it reported a net loss of Rs 3,117 crores in FY25 as compared to a loss of Rs 2,350 crores in FY24.
Eternal Limited is responsible for the Zomato platform for food delivery, dining-out, and events, Hyperpure for restaurant supplies, and Blinkit for quick commerce. The company also engages in event management, payment services and investments. The platform connects customers, restaurants, and delivery partners in India and around the world.
Swiggy Limited operates the Swiggy platform in India for food ordering and delivery. It also offers grocery and essential delivery via Swiggy Instamart, restaurant reservations via Dineout, event bookings via SteppinOut, pick-up and drop-off services via Genie, and hyperlocal commerce via Swiggy Minis.
Written by Satyajeet Mukherjee
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