Zomato's Blinkit Says Strikes To Not Have Material Impact On Revenues
Blinkit, in its first public acknowledgement, said the strikes by its delivery executives will not have a "material impact" on its financial performance.
"Over the last few days, we have made changes in the delivery partner payout structure with respect to the Blinkit business," it said, adding that the changes were made to "address the needs of delivery partners, improve customer experience, and reduce cancellation and order rejection frauds by a few delivery partners in the system."
Zomato's quick commerce arm has said it "had to shut down some stores for a few days to ensure the safety of our employees at stores and the delivery partners" and that most of these stores have now resumed operations. BQ Prime reported the same yesterday.
Zomato said these disruptions and changes have no material impact on the operations and financial performance, which means that the hit on revenues would be less than 1%, the company said in its filing to the exchanges.
Blinkit has moved from a fixed-fee model of Rs 25 per delivery to a hybrid pricing structure of Rs 15 per delivery, plus added incentives based on distance travelled. This had led to delivery executives deeming a significant cut to their earnings potential and the strikes.
However, the strikes died down yesterday as riders returned to work at the lower base pay after the protests didn't bear any fruit.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
