[ad_1] MUMBAI: Shares of the food delivery platform fell 6.4% on Monday as analysts remained cautious about the company’s takeover. blinkit, a quick delivery service firm. Market participants worry that the $165 million per year cash burn for Blinkit will further delay Zomato’s road to profitability. “Given the intense competitive intensity in the QuickCommerce space, we believe that the path to profitability post the Zomato Group acquisition can be extended by at least one year from FY25 to FY26,” said Swapnil Potdukhe, Analyst Told , Volatile market environment, relatively cheap…
Friday, September 22, 2023
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