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Tata Consumer foresees continued volume growth, sees food inflation as ‘short-term blip’

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Ashutosh Dubey
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Tata Consumer foresees continued volume growth, sees food inflation as ‘short-term blip’

Tata Consumer Products Ltd (TCPL) is viewing the current food inflation as a “short-term blip” and expects it to moderate in the next two quarters, along with a revival in consumer demand, according to its Managing Director & CEO Sunil D’Souza.

TCPL rules out price hike amid pressure

TCPL, the FMCG arm of the Tata Group, has ruled out any immediate price hike despite margins being under pressure, as it wants to “continue the volume momentum” as part of its growth ambitions.

Continue Exploring: abCoffee introduces coconut-based, non-dairy beverages across 75-plus outlets in India

“We are a growth company, and we will target double-digit top-line growth (revenue) and bottom line (margins) ahead of the top line, accepting for the right short term, which is the next two quarters,” D’Souza stated, as per ET. He also stated that food inflation remains high and in October, it was almost at double-digit, impacting urban consumption to a bit. However, the good news is the vast majority of India lives in the villages and the rural demand has started to come back after being under pressure for some quarters.

“In the short term, probably for a quarter, or maybe two quarters, you would see a pressure on margins. But I do expect momentum on top line and market share to continue,” he said.

FMCG majors experience sluggish growth in urban markets

Recently, several listed FMCG makers in their latest September quarter results reported an impact on their earnings due to high food inflation, which slowed down the pace of urban consumption. “Food inflation is a short-term blip and over the next two quarters, I do see that moderating and when that moderates, we do see demand coming back,” he added.

Continue Exploring: Western Railways announces launch of Mumbai’s first open-air Restaurant on wheels

In segments like tea, in which TCPL is a leading branded player, the company saw an increase of about 25-30 per cent in raw material prices but it did not pass on the price hike to end consumers. “We don’t want a demand shock coming in. So we have to be comparative. We have to make sure the category continues to be chugging along. So we have translated bit by bit, and we will be taking gradual price increases,” he further said. 

According to D’Souza, he is a “firm believer” that margins will come back if structural costs are right, but if you lose on market share, “getting it back is a very expensive and tiring climb back”.

“Structurally, in the last five years, we had a 12 per cent top line, 14 per cent EBITDA growth and close to 20-23 per cent of net profit. We aim to continue that trajectory going forward,” he mentioned. When asked about the price hike, D’souza said besides the tea and salt category, he did not see “any significant increase”. “Pulses (Tata Sampann) did have inflation in the first six months, and there, we calibrated the prices very quickly,” he said, adding that “gradual price increases in tea and salt have already taken it and the balance would be minimal”.

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Health Minister Rane announces revamped hygiene rating for Goa’s eateries

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Ashutosh Dubey
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Health Minister Rane announces revamped hygiene rating for Goa's eateries

Goa’s restaurant industry is set for a major overhaul as the Food and Drugs Administration (FDA) gears up to conduct hygiene inspections across the state.

FDA to ensure hygiene standards for Restaurants

This move comes after the FDA received multiple complaints about unsanitary conditions in several restaurants, particularly in the coastal belt. As per ET, Health Minister Vishwajit Rane stated that the FDA will be conducting these inspections to ensure that restaurants adhere to proper hygiene standards.

Continue Exploring: Western Railways announces launch of Mumbai’s first open-air Restaurant on wheels

An FDA official revealed that they receive around 10-12 complaints every month about unhygienic restaurants from both locals and tourists. “We then inspect the premises and issue necessary directions to the food business operator to improve hygiene,” the official said. To conduct these inspections, the FDA will be roping in FSSAI-empanelled third-party auditors. 

Health Minister Vishwajit Rane further said, “These comprehensive audits will evaluate adherence to FSSAI food safety standards, maintenance of proper sanitation protocols, staff hygiene training practices, and waste management systems.”

Non-compliant Restaurant owners may face action

Meanwhile, Restaurant owners are expected to comply fully with these requirements, as non-compliance may result in strict action under Food Safety and Standards Regulation. Furthermore, every restaurant is required to obtain and display an official hygiene rating certificate on their premises. This hygiene rating system was initiated by FSSAI to ensure that consumers make informed choices while eating out and to encourage food businesses to improve their food hygiene standards.

Continue Exploring: Goyal Salt ltd registers approx. 60% revenue growth, hits INR 74.82 Cr in H1FY25 

“The primary objective of this initiative is to enhance food safety standards and restore public confidence in Goa’s restaurant industry,” concluded Health Minister Rane. The FDA official also mentioned that hygiene rating was launched in Goa a year ago but received a poor response from food business owners, prompting them to consider re-launching the initiative.

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abCoffee introduces coconut-based, non-dairy beverages across 75-plus outlets in India

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Ashutosh Dubey
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abCoffee introduces coconut-based, non-dairy beverages across 75-plus outlets in India

abCoffee, a prominent grab-and-go coffee chain in India, has launched the country’s first-ever range of 13 coconut-based, non-dairy beverages.

abCoffee to cater demand for plant-based products with launch

This innovation caters to the growing demand for plant-based alternatives, offering both coffee and non-coffee options tailored for modern consumers. The new range, introduced in three phases, debuted in Mumbai and received significant positive feedback, prompting abCoffee to expand the offerings nationwide.

Continue Exploring: Swiggy ropes in Flipkart’s DoS Kanika Tiwari as Head of Monetization

Now available across more than 75 retail outlets in India, the lineup combines coconut milk’s creamy texture with abCoffee’s specialty coffee blends, catering to those seeking dairy-free, health-conscious options. 

Our mission at abCoffee has been to innovate – VP abCoffee

Narsaya Gajji, Vice President of Operations at abCoffee said, “Our mission at abCoffee has always been to innovate and make specialty coffee accessible, affordable, and inclusive for everyone. The coffee range which got coffee beverages wide appeal across several parts of Asia, resulting in countries like China, Indonesia, Philippines fall in love with coffee is now available in India. I personally love the Iced Thai Latte and Bubble-gum swirl, absolutely amazing.”

Continue Exploring: Goyal Salt ltd registers approx. 60% revenue growth, hits INR 74.82 Cr in H1FY25

The coconut-based range includes unique options such as the Iced Coconut Thai Latte, Bubble Gum Coconut Swirl, and Vanilla Coconut Latte. These beverages are made using specialty coffee beans sourced from India’s plantations, paired with coconut milk to create low-calorie, plant-powered drinks that appeal to coffee enthusiasts and non-coffee drinkers alike. 

This launch aligns with abCoffee’s commitment to bringing accessible and inclusive coffee experiences to the Indian retail sector while contributing to the evolving coffee culture in the country.

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Western Railways announces launch of Mumbai’s first open-air Restaurant on wheels

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Ashutosh Dubey
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Western Railways announces launch of Mumbai's first open-air Restaurant on wheels

Western Railway (WR) authorities are set to introduce Mumbai’s first open-air restaurant on wheels, which promises to transform the station’s premises while preserving its cultural and heritage essence.

Western Railway’s Restaurant to feature live music 

A decommissioned railway coach has been placed near the Grade-1 heritage Bandra station, which will soon be converted into a vibrant dining space.

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According to HT, the restaurant will feature seating both inside the coach and outside in an open-air arrangement, complemented by a podium for live musical performances. Officials hope this move will deter autos from encroaching on the station premises, which has long been a cause of traffic congestion and inconvenience to commuters.

“Bandra is a melting pot of cultural diversity and heritage beauty. This project not only aims to streamline traffic but also create a space where people can gather to enjoy good food and live music,” said a Western Railway official.

Open-air restaurant to hold cultural events, gigs

The open-air seating and thematic design will serve as an extension of the coach restaurant, with plans to host cultural events and gigs. Located adjacent to the Government Railway Police (GRP) station at Bandra West, the restaurant on wheels is set to rejuvenate the area. The railway officials believe the venture will face minimal bureaucratic hurdles as long as it doesn’t obstruct passenger movement.

Continue Exploring: JW Marriott Mumbai to introduce BarQat, eyes restaurant expansion

For years, the space outside Bandra station has been plagued by unregulated parking of auto-rickshaws, despite designated stands. The congestion often hampers commuters’ entry and exit. However, recent steps, such as clearing encroachments by vendors, have already eased the situation.

“The scene outside both east and west Bandra stations has been chaotic. Though the station’s revamp has improved things, the autos still create traffic jams. This initiative could bring some much-needed order,” said Kailash Verma, President of the Mumbai Commuters Council. 

As part of the plan, the concourse area outside Platform 1’s main entrance is also being considered for transformation into an art gallery, further enhancing the cultural appeal of the station. The restaurant on wheels sits against the backdrop of the recently renovated Bandra station building, which underwent a INR 12-crore restoration to restore its historic charm. The project saw the repair of intricate woodwork, polishing of wooden frameworks, and the restoration of the station’s stone facade and stained-glass windows to their original glory.

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Swiggy ropes in Flipkart’s DoS Kanika Tiwari as Head of Monetization

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Ashutosh Dubey
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Swiggy ropes in Flipkart’s DoS Kanika Tiwari as Head of Monetization

Swiggy, a leading online food delivery and quick commerce platform in India, has appointed Kanika Tiwari as the Head of Monetization for its quick commerce service, Swiggy Instamart.

Kanika was Director of Strategy and Growth for Flipkart Ads

Tiwari brings with her a wealth of experience from her successful tenure at Flipkart and other renowned organizations. With expertise in strategy, business development, and growth, Tiwari is expected to play a pivotal role in driving Swiggy Instamart’s growth.

Continue Exploring: Quick commerce sees record advertising revenue surge, led by Blinkit, Zepto

Tiwari’s professional journey with Flipkart spanned eight years, where she held key positions and played a crucial role in driving the company’s growth. Her most recent role at Flipkart was Director of Strategy and Growth for Flipkart Ads.

Looking forward to contribute Swiggy’s success – Kanika

“I want to thank Flipkart for the opportunities and experiences gained during my tenure. I am grateful to all the leaders I got to work with, who helped me become the professional I am today. Looking forward to this new chapter and contributing to Swiggy’s success,” added Kanika Tiwari.

Continue Exploring: Hotel brands to add 94,000 rooms across segments by 2028-29

Beyond her impactful tenure at Flipkart, Tiwari’s career began in 2011 as an Engineer at Ericsson. She later joined Rivigo in 2016 as a Business Development Manager and Key Account Manager. In her new role at Swiggy Instamart, Tiwari will focus on monetization strategies to enhance revenue streams for the platform.

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Goyal Salt ltd registers approx. 60% revenue growth, hits INR 74.82 Cr in H1FY25

By
Ashutosh Dubey
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Goyal Salt ltd registers approx. 60% revenue growth, hits INR 74.82 Cr in H1FY25

Goyal Salt Limited, a FMCG player in the salt industry, has announced its unaudited financial results for the half-year ending September 2024. The company reported a revenue of INR 74.82 crore in H1FY25, marking a 59.67% growth.

Goyal Salt makes INR 46.86 Cr revenue in H1FY24

Last year, in the same period, the company reported INR 46.86 crore overall revenue. Further in H1 this year, EBITDA surged to INR 13.13 crore, recording a 2.2-fold increase from INR 4.11 crore in the previous period, while PAT grew 2.87 times to INR 9.33 crore, compared to INR 2.41 crore in H1FY24.

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The company secured a work order worth INR 21.86 crore from the Jharkhand government and achieved a historic procurement of 150,000 tons of raw material in Q1FY25, targeting record-breaking production and sales. 

Meanwhile, Pramesh Goyal, Managing Director, Goyal Salt Ltd. said, “We are delighted to report a good set of numbers. The growth in our profitability reflects the strength of the Goyal Salt brand in North India, especially Rajasthan, UP, Bihar, Jammu, and Jharkhand. We have emerged as one of the leading brands in the league of the top three salt brands in India.”

Continue Exploring: Patanjali Ayurveda reports fivefold profit surge to INR 6,460 Cr despite sales decline

Goyal Salt setups new plant in Gujarat

Goyal stressed that the company’s motive is to reach every household in the country. He also announced that the company is setting up a new plant in Gandhidham, Kutch, with an investment of INR 80 crore approx. This plant will be the largest in the salt capital of India and will strengthen the brand in the Western part of the country like Maharashtra and Gujarat.

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Quick commerce sees record advertising revenue surge, led by Blinkit, Zepto

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Ashutosh Dubey
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Quick commerce sees record advertising revenue surge, led by Blinkit, Zepto

The quick commerce sector in India is witnessing rapid growth, with platforms such as Blinkit, Zepto, and Swiggy‘s Instamart reporting remarkable surges in revenue from advertising.

Blinkit registers fourfold revenue growth from ad

Blinkit, the market leader, reported a nearly fourfold jump in ad revenue to more than INR 400 crore for 2023-24, and is on track to earn more than INR 1,000 crore from ads in this financial year. Zepto is also on a INR 1,000 crore revenue run-rate from advertisement services, which offer higher margins to companies than other revenue lines.

Continue Exploring: Hotel brands to add 94,000 rooms across segments by 2028-29

According to ET, “One of the obvious reasons why brands want to advertise on quick commerce increasingly is that the user base on platforms such as Blinkit, Zepto and Instamart is expanding at a rapid pace,” said a quick commerce executive, who did not wish to be identified. 

Further, Blinkit’s monthly transacting customers nearly doubled to 8.9 million in the July-September quarter, compared to 4.7 million a year ago. The nature of quick commerce is also such that to achieve inventory offtake quickly, brands tend to spend on ads to stand out for their consumers. Platforms have been investing in technologies for advertising to be more effective for brands.

Flipkart, Amazon reports INR 11,621 Cr ad revenue in FY24

The scale of ad revenue for quick commerce firms is also being achieved faster than e-commerce marketplaces such as Flipkart and Amazon, which together reported INR 11,621 crore in ad revenue for 2023-24. SoftBank-backed ecommerce marketplace Meesho also derives a sizable portion of its operating revenue from advertising income.

Continue Exploring: Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

For Meesho, it also comes with fatter margins than its logistics services. Overall, Blinkit is clocking an annual gross sales run rate of nearly $3 billion, while Zepto is tracking $2 billion. According to its latest public numbers available, as of June 30, Swiggy Instamart was at an annual gross sales run rate of $1.3 billion.

Industry executives also indicated that income from advertising is highly profitable for consumer internet platforms, with 90-95% of it flowing to profit. “Today we are at an Rs 1,000 crore annualised revenue run-rate (from advertising)… it’s a meaningful driver of the bottomline,” said Zepto founder and CEO Aadit Palicha. 

In its initial public offering prospectus, Bengaluru-based Swiggy said, “We plan to increase the contribution of advertising revenue further by enhancing our advertising tools such that our partners can continue to leverage our integrated platform to run unique and customised advertising campaigns, which are backed by rich insights and analytics.”

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Hotel brands to add 94,000 rooms across segments by 2028-29

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Ashutosh Dubey
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Hotel brands to add 94,000 rooms across segments by 2028-29

India’s hospitality industry is witnessing a significant surge in branded hotel rooms, with several Indian and global hotel chains expanding their presence in the country.

Data shared by hospitality consultancy Hotelivate showed that at the start of November, about 94,000 branded hotel rooms across segments were to be added by 2028-29. The inventory of existing branded hotel rooms, as per Hotelivate, stands at 192,000.

Branded inventory opens 12,000 rooms since march

According to ET, “Since March and August, the branded inventory that opened is up by about 12,000 rooms, and the new supply pipeline is up by another 5,500 rooms, respectively,” said Manav Thadani, founder chairman of Hotelivate.

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As per data gathered from top hotel chains, Tata Group-backed Indian Hotels Company (IHCL) has the maximum number of rooms (17,354) set to open in the next three to four years. 

On Tuesday, IHCL announced its new ACCELERATE 2030 strategy, under which it plans to increase its current portfolio of hotels to more than 700 by 2030, from 350 now, besides reaching an enterprise revenue mark of over INR 30,000 crore from the current INR 13,000 crore. 

Meanwhile, Marriott International also has ambitious expansion plans, with Kiran Andicot, regional vice president, South Asia, for hotel development at Marriott International, saying that in the next five years, the chain expects to open more than 40 hotels with over 6,500 rooms. Marriott International has an inventory of more than 29,000 rooms across 153 hotels.

To be noted, Radisson Hotel Group has 125 hotels across 13,948 keys and has a pipeline of 81 hotels spanning 7,985 keys. “We are often the only international hotel brand in tier 2 and 3 cities, and many of our pipeline hotels will extend our reach in these markets,” said Nikhil Sharma, managing director and area senior vice president for South Asia at Radisson Hotel Group.

Continue Exploring: Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

ITC to add 18,000 keys by 2030, Lemon Tree Hotels about 70

Further, ITC Hotels currently has 140 hotels with over 13,000 keys across more than 90 destinations and aims to expand its portfolio to 200 hotels with a total of around 18,000 keys by 2030. “Quality defines us. Quality has been at the epicentre of all experiences and initiatives at ITC Hotels. This growth aligns with our vision to cater to a wider range of travellers across various segments, from luxury to experiential and boutique,” said an ITC Hotels spokesperson.

Reportedly, Lemon Tree Hotels is expected to open around 70 hotels in the next four to five years, adding 4,700 rooms to the inventory. Chains such as Hilton and Accor said 2024 has been the “year of expansion” and a “transformative” year for India. “There has been significant growth momentum led by brand launches, new market entries and marquee openings in key gateway cities,” said Zubin Saxena, senior vice president and regional head, South Asia at Hilton. “Our recent landmark deal with Olive by Embassy to introduce 150 Spark by Hilton hotels across India represents a transformative step in our growth journey.” 

“With this, Hilton’s portfolio is set to grow to 200 trading and pipeline hotels over the coming years, surpassing our goal of tripling our India estate to 75 hotels,” he said. This year, Accor signed hotels across locations such as Jaipur, Varanasi, Amritsar, Tirupati and Bengaluru, said Garth Simmons, chief operating officer of Accor’s premium, midscale and economy division in Asia. “These developments reflect Accor’s focus on bringing our global hospitality expertise to diverse locations in India, enhancing our portfolio to meet the needs of travellers in this dynamic market.”

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JW Marriott Mumbai to introduce BarQat, eyes restaurant expansion

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Ashutosh Dubey
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JW Marriott Mumbai to introduce BarQat, eyes restaurant expansion

JW Marriott Mumbai Sahar is set to launch a new Indian restaurant called BarQat, which promises to offer an authentic and traditional Indian dining experience.

JW’s BarQat, an open-air Al Fresco restaurant

Located near the poolside, BarQat is an open-air Al Fresco restaurant that offers a unique ambiance, blending modern aesthetics with timeless tradition. The restaurant takes pride in offering its guests a culinary haven that pays homage to the rich lineage of Indian cuisine, skillfully presented by experienced chefs.

Continue Exploring: Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

According to the hotel, BarQat is committed to curating an elaborate journey through authentic spices, flavors, ancestral recipes, and traditional cooking techniques with a touch of modern presentation. The restaurant’s objective is to transport its patrons to a realm where every dish whispers tales of tradition, craftsmanship, and an unwavering passion for authentic Indian flavors.

BarQat is to transport our patrons to a realm – Chef, JW

“As a destination known for its culinary prowess, elevated service, our objective at BarQat is to transport our patrons to a realm, where every dish whispers tales of tradition, craftsmanship, and an unwavering passion for authentic Indian flavours. We look forward to welcoming guests for a royal journey through a bygone era that spells old world charm and luxury under the starlit skies at this new Al Fresco restaurant” says chef Prakash Chettiyar, director of culinary, JW Marriott Mumbai Sahar.

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The general manager of JW Marriott Mumbai Sahar, Kunal Chauhan, added, “BarQat isn’t just a restaurant, it’s a tribute to the soulful essence of Indian cuisine, where the menu is crafted with passion and reverence for tradition, promising an exquisite dining experience.”

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Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

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Ashutosh Dubey
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Zomato registers 7.62% shares surge to INR 284 on BSE after Sensex inclusion

Zomato‘s shares surged as much as 7.62% to INR 284.30 apiece on the BSE today (November 25) after the company announced its inclusion in the BSE Sensex. 

Zomato replaces JSW Steel in Index

This development comes as part of the upcoming reconstitution of the 30-stock benchmark index, effective December 23. Zomato will replace JSW Steel in the index.

Continue Exploring: Patanjali Ayurveda reports fivefold profit surge to INR 6,460 Cr despite sales decline

According to INC42, the company’s shareholders have also approved raising INR 8,500 Cr (around $1 Bn) through a qualified institutional placement (QIP). This move is expected to provide a boost to the company’s growth plans. The shares pared some gains to trade 5.47% higher at INR 278.60 at 12:35 PM. This came after the company ended its last three trading sessions in the red.

Morgan Stanley predicts Zomato’s stock to double in 5 years

The company’s inclusion in the BSE Sensex is a significant milestone, and analysts are bullish about its prospects. Global brokerage firm Morgan Stanley has projected that Zomato’s stock has the potential to double in value within five years—or even in less than three years under a bullish scenario.

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Further, the brokerage firm maintained an “overweight” rating and a “top pick” status for the stock, underlining Zomato’s rising share of quick commerce in India’s retail market, strong execution in food delivery and quick commerce, a deep balance sheet, and a large profit pool by 2030.

Meanwhile, the food tech giant’s financial performance has also been impressive, with a 68.5% surge in operating revenue to INR 4,799 Cr in Q2 FY25 from INR 2,848 Cr in the September quarter of the previous fiscal. Its Quick commerce business Blinkit’s GOV surged 25% QoQ to INR 6,132 Cr. However, the company’s net profit slumped 30% to INR 176 Cr in the September quarter from INR 253 Cr posted in the preceding June quarter.

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