Swiggy

In a bold stand against rising operational costs, restaurants in Namakkal, Tamil Nadu, have ceased food delivery services via leading online aggregators Swiggy and Zomato. The move, which took effect on July 1, follows a growing outcry among local restaurant owners over steep commission rates, delayed payments, and hidden advertising charges. Despite earlier warnings and attempts at negotiation, talks between restaurant representatives and the platforms failed, prompting the indefinite suspension of services.

Twid, a fintech innovator in the rewards-based payment ecosystem, has set an ambitious target to double its merchant partner network to 2 lakh by the close of FY25. The company, which recently surpassed the 1 lakh merchant milestone, collaborates with high-profile brands including Swiggy, Myntra, and MakeMyTrip. By converting reward points into a seamless, spendable currency, Twid is revolutionizing traditional loyalty programs.

Swiggy, the prominent food delivery and quick-commerce platform, has reported a significant rise in its consolidated net loss for the March quarter, reaching Rs. 1,081.18 crore, up from Rs. 554.77 crore in the same period last year. This sharp increase is attributed to the company's aggressive investment strategy in quick commerce and customer acquisition. Despite the widened losses, Swiggy's revenue surged to Rs. 4,410 crore, and its operational efficiencies led to improved EBITDA margins.

Swiggy’s ultra-fast delivery service, 'Bolt', has seen rapid expansion since its launch in October last year, now operational in over 500 cities across India. With at least 10% of all Swiggy orders currently being fulfilled via this 10-minute delivery model, the company is positioning 'Bolt' as a cornerstone of its growth strategy. This development contrasts sharply with rival Zomato—recently rebranded as Eternal—which has shuttered its own quick commerce initiative citing unviable economics.

In a significant move to promote cooperative brands, the Ministry of Cooperation has signed a memorandum of understanding (MoU) with Swiggy Instamart. This partnership aims to onboard cooperative dairy and organic products onto Swiggy’s e-commerce and quick commerce platforms. Through this initiative, Swiggy will create a dedicated "Cooperative" category, allowing consumers to access a variety of cooperative-developed products.

In a bold expansion beyond food delivery and grocery logistics, Swiggy has unveiled Pyng, an AI-powered marketplace designed to connect users with professionals across diverse service categories—including wellness, astrology, event planning, and skill training. With the platform currently live in Bengaluru, Swiggy is positioning Pyng as a trusted, spam-free solution to a rising demand for curated, on-demand expertise.

As per latest reports, Sahil Barua, the co-founder and CEO of Delhivery Ltd., has resigned from his position as an Independent Director on the board of food and grocery delivery platform Swiggy, citing rising professional obligations following a major acquisition by his company. Barua’s resignation comes shortly after Delhivery announced the acquisition of a controlling stake in logistics rival Ecom Express Ltd. for approximately Rs. 1,400 crore, signaling a significant strategic move in India’s logistics sector.

Barua Steps Down Due to Increased Workload

Swiggy, a leading food and grocery delivery platform in India, has recently been issued a profession tax assessment order amounting to Rs 7.59 crore by the Office of the Profession Tax Officer, Pune. The order pertains to the period from April 2021 to March 2022 and alleges a violation of the Maharashtra State Tax on Professions, Trades, Callings & Employments Act, 1975. Specifically, Swiggy is accused of failing to appropriately deduct profession tax from its employees' salaries.