Hyperpure, a vertical supplying grocery to restaurants, is the third largest revenue stream for Zomato. And Swiggy cannot afford to leave this fast-growing segment to Deepinder Goyal.
The increase in fair value, on the basis of information provided in the companys FY23 annual report, is mainly due to the contribution margin for food delivery which rose “handsomely” to Rs 18.5 per order in FY23 from Rs 6.6 in FY22, driven by higher revenues and cost optimisation, the brokerage firm said.
Analysts see the food delivery firm’s gross order value growing at 19 percent CAGR over FY23-26 even as its Blinkit and Hyperpure businesses show promise
Foodtech major Zomato reported its first net profit on Thursday propelled by a tax gain, a quarter ahead of its expectations.
To be sure, the chronically ..