In the three months ended December (Q3FY24), the company's food delivery business remained stable, but what truly caught the attention was the impressive performance of its quick commerce arm-Blinkit.
In Q3, Blinkit's gross order value (GOV) grew 28% sequentially thanks to festive tailwinds. While most of the growth was volume-led, a rise in the average order value also helped. 90% of Blinkit's GOV originates from the top eight cities, highlighting significant acceptance. Moreover, the average time taken for new stores to reach 1,000 orders per day dropped to two months in October from 5.8 months in Q4FY23. Little wonder, its shares rose 6.5% in the past two trading sessions following Q3 results, scaling to a new 52-week high of 151.40 on Friday.
هذه القصة مأخوذة من طبعة February 12, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 12, 2024 من Mint Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Buying Online? Beware Of these deceptive patterns
Deceptive prompts in apps—ways to coerce people into spending more time or money—are on the rise. Here's how to identify them
As AI gets real, slow and steady wins the race
Companies head into 2025 with careful deliberation when it comes to using AI
Why the Earth Is Not a Type 1 Technological Civilization
According to one theory about how we harness energy, Type 1s have total control over planetary energy resources
Our legislative frameworks must adapt to the rise of AI
Probabilistic digital systems complicate guilt assignment but we'll need tight controls against major harms
Take tax action for Viksit Bharat in the Union budget for 2025-26
The government could take major steps towards its worthy goal of a tax regime that's simple, predictable and competitive
Trump's US mustn't repeat its profiling of Chinese scientists
Espionage suspicions could lead the US to lose its war for talent
The rise of Trump poses a paradox of higher education
An elitist college system seems to have deepened divisions in the US and this may hold lessons for India too
There's a case for heavy taxes on MNC royalties
Royalty payments to MNCs by their local units have been rising-even going above dividend payouts in some cases. India needs shareholder vigilance and fiscal action to curb excesses
Financial frauds evolve fast but we can still safeguard ourselves
While technology has transformed how scamsters operate, reliable ways exist to dodge their traps
Smart-beta funds: A guide to balancing your portfolio
Tailor-made strategies will help you navigate the market cycles better and optimize returns
