Eternal, the parent entity of Blinkit and Zomato, on Wednesday said Deepinder Goyal will step down as its Group CEO and Managing Director with Blinkit CEO Albinder Dhindsa set to succeed him as Group CEO from February 1.
Eternal, the parent company of Zomato and Blinkit, on Wednesday reported a 72.8 per cent jump in its net profit for the third quarter of financial year 2026 (Q3FY26), on the back of a robust momentum in its quick commerce business. The firm's net profit rose to Rs 102 crore in Q3FY26 against Rs 59 crore it reported during the same period a year ago.
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Orders on Blinkit were skyrocketing on New Year's Eve as India was preparing to ring in 2025. India's collective NYE shopping list was enormous and startling as per a post shared by Albinder Dhindsa, the CEO of app-based grocers, Blinkit, on X.com.
Eternal (formerly known as Zomato) reported a net profit of Rs 39 crore for the fourth quarter of FY25, down 77.7 per cent year-on-year from Rs 175 crore in the same period a year ago. On a sequential basis, profit was also down 33.8 per cent from Rs 59 crore in the preceding quarter (Q3FY25).
He was seen wearing a plaque around his neck while sitting in a wheelchair because of a fractured leg.
Pronouncing 'tankhah' (religious punishment) for Sukhbir Singh Badal and other leaders for the 'mistakes' committed by the Shiromani Akali Dal government in Punjab from 2007 to 2017, the Sikh clergy at the Akal Takht on Monday directed the senior Akali leader to perform as a 'sewadar', and wash dishes and clean shoes at the Golden Temple in Amritsar.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
If everything goes according to plan, a resuscitated SAD could emerge as a central player in Punjab in three years, notes Aditi Phadnis.
For food aggregator platform Swiggy, quick commerce (qcom) is proving to be a better growth opportunity than food delivery. Its qcom arm Instamart is rapidly outpacing its core food delivery vertical across several key financial metrics, the company's recently filed draft red herring prospectus (DRHP) shows.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
At a time when Flipkart has entered the quick-commerce race with a service called "Minutes", executives at rival players said they are in a wait-and-watch mode. They said they would be concerned only once the e-commerce firm is able to succeed in this space. The Walmart-owned firm's quick-commerce service has gone live in some parts of Bengaluru, putting it in competition with firms such as Zepto, Swiggy's Instamart, and Zomato's Blinkit.
After making the model work in metro cities, players in the quick commerce sector are rapidly expanding their footprint into smaller tier 2 cities and markets beyond that ahead of the festival season.
Food delivery platform Zomato has laid the foundation for its third vertical of growth by agreeing to acquire Paytm's entertainment and ticketing business, said analysts on Thursday (August 22). Zomato, which also runs a quick commerce business called Blinkit, will strengthen its 'going out' offering but the acquisition may take time to yield results, they said. "Paytm's entertainment and ticketing arm will be part of Zomato's District app, which is due to be launched in the coming weeks.
Rebel Akali leader Gurpartap Singh Wadala slammed Badal's move, saying instead of showing "a sense of renunciation", he issued a "dictatorial order" aimed to sideline those who want a "change" for strengthening the party
Leading up to Valentine's Day on February 14, quick-commerce platforms like Blinkit and Swiggy Instamart have witnessed a phenomenal uptick in the sales of products related to the occasion, such as roses and chocolates. Meanwhile, e-commerce giants like Amazon and Flipkart have gone live with their respective Valentine's Day sale events, offering generous discounts on products. Sales of chocolates and roses on Zomato-owned Blinkit shattered previous records at the beginning of this year's Valentine's Day week, on February 7, which is celebrated as Rose Day.
As the Men in Blue took on Australia in an intriguing ICC Men's Cricket World Cup final in Ahmedabad on Sunday, the orders on quick delivery platforms reflected the pulsating mood of the nation.
Several food and grocery delivery firms witnessed their highest ever single-day orders on New Year eve, December 31. Zomato achieved a record-breaking number of orders on its app. The company carried out nearly as many orders on December 31 as the total for the equivalent day in the period from 2015 to 2020.
They handed the apology letter to Akal Takht Jathedar Giani Raghbir Singh at the Akal Takht Secretariat at the Golden Temple in Amritsar. The Akal Takht is the supreme temporal seat of the Sikhs.
Quick commerce is proving to be a solid business proposition, with companies like Zomato's Blinkit and Y Combinator-backed Zepto recently registering growth, charting paths to profitability. Blinkit logged its highest gross order value (GOV) and customer transactions in June and July, showing a positive contribution for the first time in the quarter ended June 2023. Deepinder Goyal, Zomato's co-founder and chief executive officer (CEO), predicted that Blinkit would deliver more value to shareholders than the core food delivery business in the next decade.
Shekhawat, the BJP's poll in-charge for Punjab, said to finalise the seat sharing agreement, a joint committee will be formed comprising two leaders from each party.
Key drivers of profitability for Zomato has not witnessed remarkable growth, the management believes the venture will turn profitable in the long term.
'One good thing that has come out of all this is that it shown people that online ordering is the way forward.'
'The focus on easier access and faster delivery is creating a new consumption pattern that allows consumers to satisfy their last-minute cravings and restock essentials at the click of a button.'
The BJP Friday formally announced that it will contest the upcoming assembly elections in Punjab in alliance with Amarinder Singh's Punjab Lok Congress.
'Hopeful of a seat arrangement with BJP in polls if farmers protest is resolved in farmers' interest'
The Shiromani Akali Dal had on Saturday quit the National Democratic Alliance over the farm bills issue.
For Sikhs, they say, honour is the bottom line; and whatever the state of the SAD's political fortunes today, arrogance will not be helpful in the negotiation.
Singh (80) had floated the Punjab Lok Congress last year after quitting the Congress.
AAP has nominated former cricketer Harbhajan Singh as its Rajya Sabha candidate from Punjab
The Congress also fielded former Patiala mayor Vishnu Sharma from the Patiala assembly seats against its former leader Amarinder Singh.
"NDA is a beautiful rainbow of regional aspirations... So nation's development through the development of states... At a time when we are working for a developed India, NDA is taking the lead in showing the spirit of sabka prayas," he said.
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Such is the situation of the government in Punjab, the prime minister said while hitting out the Congress, and asserted that he will come to Jalandhar again and pay obeisance at the Devi Talab Mandir.
Shah asserted that the BJP will once again form the government in Uttar Pradesh with a comfortable majority.
'The Badals have made the Akali Dal a family enterprise and undermined the Sikh faith. They have no right to call themselves Akalis. We have approached the Election Commission to register ourselves as the Akali Dal with a different nomenclature. We will impress on people's minds that we are the real Akali Dal' Sai Manish reports on the fight for supremacy over the Akali Dal.
Some candidates in these two states have been provided security till the poll process ends.
Online food delivery aggregator Zomato is on an internal rebranding exercise by moving to a multiple chief executive structure for its businesses that will be housed under a larger organisation called Eternal. In an internal message to employees, Founder and Chief Executive Officer (CEO) Deepinder Goyal said the company is at a stage where it has matured from running a single business to running multiple and large companies. The restructuring is happening after the shareholder approved the Blinkit acquisition.
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