Swiggy flags quick commerce battle as Amazon, Flipkart join 10-minute race
Instamart, Swiggy's quick commerce arm, saw gross order value (GOV) grow 21% year-on-year to Rs 5,655 crore, while operating losses widened to Rs 896 crore, up 181% from Rs 318 crore in Q1 FY25. Founder and group CEO Sriharsha Majety said competitive intensity remains high from both 'QComm-only' and 'QComm-also' players.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
34 minutes ago
- Time of India
Discom rules flouted in inflated bill cases
1 2 Jaipur: Consumers are grappling with erroneous, inflated power bills that require payment of the full amount, facing the threat of supply disconnection if unable to do so. Discom rules are often overlooked by authorities, officials said. According to officials, supply disconnection is a lengthy process, providing consumers the right to present their position and offering several opportunities to do so. However, a lack of awareness of the rules among consumers and the indifferent, authoritarian attitude of authorities at the lower level of the administration ultimately lead to harassment. They said as per the existing rules, customers are required to pay average monthly charges in cases of inflated bills and follow the process to settle disputes. "We have an internal grievance redressal (IGR) cell set up for resolving bill payment disputes arising out of faulty meter reading or overshooting contracted demand (for large consumers). Customers should not be asked to pay the full amount pending the process," a discom official said. Payment disputes involving up to Rs 20,000 are resolved at the AEN. Disputes up to Rs 50,000 are addressed by the XEN. Cases between Rs 50,000 to Rs 5 lakh are taken up at the circle level and above that at the discom's corporate level. By the time the disputes reach the corporate level, the number is reduced to about five to seven. The highest level of grievance redressal cell is represented by the managing director of discoms, an independent official from the Rajasthan Electricity Regulatory Commission, and a senior accounts person. In fact, the IGR asks for deposits of money in the disputed cases, but they mostly involve high-value cases. Often, it is 25% or 50% of the disputed amount, depending on the nature of the case. But the rates are not uniform, said a discom official. "In most cases, the genuineness of the bill raised is known because the consumer has a record. If a meter malfunctions and the consumption of units goes up, it's easier to solve it. But in cases involving large customers when their consumption overshoots their contracted demand, we demand a deposit of 25% or 50% of the disputed amount," said the official. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
an hour ago
- Time of India
'Fake guarantee': ED arrests BTPL's Partha Biswal; will confront him with Anil
Anil Ambani (File photo) NEW DELHI: In a significant development ahead of questioning Anil Ambani of Reliance ADAG, Enforcement Directorate late on Friday night arrested Partha Biswal, the MD of Biswal Tradelink Pvt Ltd (BTPL) that was searched by the agency in connection with a Rs 68-crore fake bank guarantee provided by the Ambani group to Solar Energy Corporation of India Ltd (SECI) to secure a tender. The central agency has claimed that Anil Ambani ADAG group's Reliance Power Ltd paid Rs 5.4 crore to Biswal's BTPL for "providing this bank guarantee" by forging documents. A special court here on Saturday granted the custody of Biswal, whose company was searched on Friday, to ED till Aug 6, during which he is likely to be confronted with Anil Ambani and questioned about the fake bank guarantee he allegedly generated by spoofing email of govt lender SBI. ED proof confirms use of fake docus in name of banks The agency on Friday issued a look out circular (LOC) to put curbs on foreign travel by Anil Ambani who has been summoned for questioning on Aug 5 at the agency's headquarters in Delhi. Biswal's BTPL was incorporated in 2019 and has been found to have at least seven "undisclosed bank accounts" involving transactions of alleged proceeds of crime, disproportionate to its declared turnover, has been found during the money trail conducted by ED. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Santo Domingo Este: Unsold Sofas Prices May Surprise You (Prices May Surprise You) Sofas | Search Ads Search Now Undo On Friday, ED conducted searches at three premises in Bhubaneswar and one at Kolkata after its investigators found alleged evidence of the fake bank guarantee provided to SECI on behalf of Reliance NU BESS Ltd/Maharashtra Energy Generation Ltd. "BTPL fraudulently arranged and submitted fake bank guarantees of Rs 68.2 crore along with forged SBI endorsements and fabricated confirmations for a SECI tender. For providing this bank guarantee, Rs 5.4 crore have been received by BTPL from Reliance Power Ltd," a senior official aware of the probe said. The Reliance Group reiterated its statement issued on Friday saying: "The company and its subsidiaries acted bonafidely and have been a victim of fraud. .. The company has made a due disclosure on this to the stock exchanges and a criminal complaint has already been lodged with Delhi Police." Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
2 hours ago
- Time of India
Tomatoes get expensive as rains hit supply, quality
Pune/Nashik: Tomato prices in the city soared to Rs 60 to Rs 70 per kg in retail markets and hit Rs 90 to Rs 100 a kg on quick commerce platforms. Rainfall and supply disruptions have led to limited supply in the market, pushing up prices. A Pune Agricultural Produce Market Committee (APMC) official said, "Owing to the rainfall, the supply of tomatoes has reduced in the market. The quality is also compromised usually in the monsoon. Wholesale rates are trending at around Rs 40 per kg," said Sharad Gongade, secretary of the Narayangaon market, a major hub for tomatoes in the state, said, "Prices have increased to Rs 700 to Rs 800 per 20kg crate now owing to lesser supply in the market. Prices should come down in a few weeks in August." You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune The average wholesale tomato price was recorded at Rs 911 a crate or Rs 45.55 per kg at Pimpalgaon and Nashik APMCs in Nashik district on Friday. The average wholesale tomato price increased by 153% in the last 14 days, from Rs 18 per kg on July 18 to Rs 45.55 per kg on Friday at Pimpalgaon and Nashik APMCs. In retail markets of Nashik, the tomato price increased from Rs 25 per kg on July 18 to Rs 70 per kg to date. Rajendra Khare, an official from Nashik APMC overseeing the tomato section, said rain damaged tomato crops, causing a drop in the arrivals of the produce. The arrivals of the tomatoes have dropped by around 40% in the last fortnight, from 10,500 crates per day around a fortnight back to around 7,000 crates per day so far. "The price of tomatoes depends on the quality of the vegetable. People have no choice but to buy it. In wholesale markets, the price for small tomatoes is Rs 30 to Rs 35 per kg, and in retail, we are selling at Rs 50 to Rs 60 per kg," said Rajesh Borude, a vendor at Somwar Peth. Rohit Suryanwanshi, a vendor at the Hadaspar vegetable market, said that prices in the retail market are between Rs 45 to Rs 60 depending on the quality. "Supply is less in the market, and that is the reason prices are higher. Best quality tomatoes are selling at around Rs 60 a kg," he said. Traders said the upward trend of prices is likely to continue till mid-August or more until the new produce reaches markets. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
