Swiggy News

Amid growing criticism and concerns raised by Labour Minister Mansukh Mandaviya, quick commerce firms like Blinkit and Zepto have now voluntarily decided to pause their 10-minute delivery claims. 

A Swiggy delivery agent was injured while getting off a moving train, prompting the company to respond and assure support.

A meeting was held by Union Labour Minister Mansukh Mandaviya with leading platforms including Blinkit, Zepto, Zomato and Swiggy among others to address concerns related to delivery timelines.

LocalCircles survey revealed that three out of four households order food at least once a month using mobile apps.   

The incentive push follows calls by delivery worker unions for strikes on December 25 and December 31 to protest pay, working conditions and lack of social security.

A massive nationwide strike by gig workers is set for December 31, potentially paralysing food and grocery deliveries on New Year's Eve. Led by IFAT and TGPWU, workers are demanding an end to "10-minute delivery" models and better social security.  

The issue came to light when a user named 'Mumbai Rains' shared photos on social media platform X showing that a pack of crispy chicken had been delivered, even though the bill clearly listed all items as vegetarian.

The loss is attributable to the owners of the company, the company informed in its stock exchange filing.

In an X post, user Sunder has questioned online food delivery platform Swiggy about why it charges a disproportionately high price for the same food items that are offered in restaurants for a significantly lower price.

Bengaluru-based Swiggy has hiked its platform fee for the third time in as many weeks to Rs 15 per order (inclusive of GST), while Gurugram-based Zomato has increased its levy by 20 percent to Rs 12 per order (excluding GST).

The food delivery platform has been consistently increasing the fees. Swiggy’s fee climbed from Rs 2 in April 2023 to Rs 6 in July 2024 and Rs 10 in October 2024. The current fees of Rs 14 are a staggering 600 per cent rise in just over two years.

On quarter-on-quarter (QoQ) basis, the Bengaluru-based firm posted a net loss of Rs 1,081 crore in the previous quarter (Q4 FY25), according to its stock exchange filing. The widening losses were mainly due to its Quick Commerce division, Instamart, where the financial strain deepened sharply.

Instamart has also introduced a refreshed visual identity, led by a new primary brand colour—blue—symbolising reliability, speed, and trust. It’s a fitting evolution for a brand that has become a daily staple in millions of households. 

The social media post about the swiggy delivery agent has struck an emotional chord with many on social media. 

Revenue was up at Rs 5,609 crore in the March quarter, from Rs 3,668 crore in Q4 of FY24. “FY25 was a year of many firsts for Swiggy. 

On a year-to-date (YTD) basis, the stock is down by Rs 236.95 or 43.69 per cent. Additionally, the fall over the past one year is also exactly Rs 150.6 or 33.03 per cent.  

The stock, which closed flat at Rs 334.5 on Tuesday, has been under sustained pressure amid growing concerns about its quick commerce business and slowing growth in the food delivery segment.

The MoU is part of a series of agreements the Ministry is forging with private agencies to bridge the gap between demand and supply in the labour market. 

Over the past six months, the stock has fallen 26.64 per cent, while the last one-month data shows a decline of 6.05 per cent on the NSE.  

According to the order, the larger tax demand stems from issues like cancellation charges paid to merchants, which tax authorities have disallowed under Section 37 of the Income-tax Act, 1961.