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The food delivery market in India, dominated by Zomato and Swiggy, is experiencing a slowdown. The rise of quick commerce and limited discretionary spending are among the reasons for the sluggish demand environment.
In such a situation, both companies are undertaking measures to address the tepid demand in food delivery.
Zomato
Food delivery stayed in the slow lane for Zomato in the March quarter. Parent company Eternal reported a steep 78% year-on-year (YoY) fall in net profit to Rs 39 crore, as losses from its quick commerce arm Blinkit continued to…
