Foodtech giant Zomato has launched a new feature ‘Food Rescue’, enabling user to claim cancelled food orders at a discounted price
Meanwhile, Zomato rejected the news report which said that the Competition Commission of India (CCI) found the company in violation of the competition laws
On the back of the strong growth in its quick commerce business Blinkit, Zomato’s net profit surged 389% to INR 176 Cr in the September quarter (Q2) of the financial year 2024-25 (FY25) from INR 36 Cr, a year ago
Foodtech giant Zomato
has launched a new feature ‘Food Rescue’, which allows users to buy cancelled food orders from nearby areas, with an eye on reducing food wastage.
In a blog post, the company said that around 4 Lakh food orders are cancelled on its platform every month, which results in food wastage. To tackle this, Food Rescue will enable users under the radius of 3 kms of the order cancelled to claim the food at a discounted price.
“The amount paid by the new customer will be shared with the original customer (if they made online payment), and with the restaurant partner. Zomato will not keep any proceeds (except the required government taxes),” Zomato said.
The company said that the orders containing items like ice creams, shakes, smoothies, among others, which are sensitive to temperature and distance, would not be offered under Food Rescue.
This is another addition to the long list of new features launched by the Blinkit parent in recent months. Zomato recently rolled out group orders, cash on delivery for food orders, schedule order feature, among others.
Apart from consistent feature updates in its food delivery platform, Zomato acquired Paytm’s events and movies ticketing subsidiaries Wasteland Entertainment Private Limited and Orbgen Technologies Private Limited, for INR 2,048 Cr in an all-cash deal, in late August.
Meanwhile, in an exchange filing on Sunday (November 10), Zomato rejected the news report which said that the Competition Commission of India (CCI) found the company in violation of the competition laws.
Zomato said that while the antitrust body asked its investigative arm to investigate potential violations by the company of the competition laws in 2022, the CCI has not passed any further orders and there have been no reportable events.
This comes days after Reuters reported that the CCI found that Zomato and its rival Swiggy violated competition laws.
On the back of the strong growth in its quick commerce business Blinkit, Zomato’s net profit surged 389% to INR 176 Cr in the September quarter (Q2) of the financial year 2024-25 (FY25) from INR 36 Cr in the year-ago period. Operating revenue zoomed 68.5% to INR 4,799 Cr in the reported quarter from INR 2,848 Cr in Q2 FY24.
Amid the rising competition in the quick commerce space, Zomato also got the nod of its board to raise INR 8,500 Cr via qualified institutional placement (QIP).
Updated at 11:52 AM
