Companies & Sectors
Zomato claims to break-even in India operations
New Delhi : Leading online restaurant booking and food ordering application (app) firm Zomato on Monday claimed achieving break-even or operating profit in its business across India and five countries in South East Asia and the Gulf region.
 
Other countries are Lebanon, Qatar and the United Arab Emirates (UAE) in the Gulf and Indonesia and Philippines in South East Asia.
 
The start-up firm, however, did not disclose to the media at what revenue the break-even was achieved or other operational numbers.
 
"We have doubled our revenue year-on-year (YoY) over the last few years to post growth numbers this year (fiscal) as our business turned profitable in six of the 18 markets we operate," Zomato founder and chief executive Deepinder Goyal said in a statement here.
 
The company plans to deploy its profits in operations to fuel growth and compete harder to stay ahead of rivals.
 
"We don't depend on external funds to experiment or spend on new initiatives in India and other markets," Zomato co-founder Pankaj Chaddah said in the statement.
 
Chaddah has been leading Zomato's food ordering vertical since November 2015 which has witnessed four-fold growth in the past three months.
 
"2015 has been a challenging year for food-tech and the market has seen its fair share of correction in recent months," said Sequoia Capital India Advisors managing director Mohit Bhatnagar in the statement.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Maharashtra tops Internet readiness index: Report
New Delhi : Maharashtra has emerged as the top ranking state in terms of overall Internet readiness index, followed by Karnataka, Gujarat, Telengana and Tamil Nadu, according to a report unveiled here on Monday.
 
The report, Index of Internet Readiness of Indian States’, was published by the Internet and Mobile Association of India (IAMAI) and Indicus Analytics.
 
Internet readiness index is a composite index on components like e-infrastructure index, e-participation index, IT-services and e-governance index.
 
Among the smaller states, Delhi has emerged as the topmost state in terms of Internet readiness index, followed by Puducherry and Goa. 
 
Even in the smaller states, the northeastern States do not figure among the top three. “Therefore, much more needs to be done in the form of investment and infrastructure development in the region,” the report stated.
 
Among the Union Territories, Chandigarh is ranked top in terms of Internet readiness index.
 
The purpose of the report was to help the business and governments to leverage the strength, policy measures can also be taken where improvements are required.
 
“Given the rapid advancement in e-services and e-commerce, it is essential to understand the strengths and weaknesses of the states,” the report said.
 
“Internet readiness in this study is not limited to how industry friendly each state is for investment in the IT sector, but aims to give a more holistic picture of the digital ecosphere that presently exists in the states. 
 
"This stems from the understanding that only an organic linkage between the digital world and the real world can lead to the development and wellbeing that digitalization promises to deliver,” the report stated.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Cold is gold for tourism industry
New Delhi : Micro light flying in Mysore, heli-skiing in Auli, scuba diving in Netrani Island, dune bashing in Jaisalmer, zip lining at Neemrana Fort, spelunking in Meghalaya, bunjee jumping in Rishikesh... All this and more! The harsh winter is no more an impediment to a great holiday.
 
Tourism industry comes alive in winters, offering a wide range of adventure activities for those who do not shy away from experimenting.
 
Film editor Sandeep Singh finds snow-capped landscape and cold winds exhilarating. For this travel junkie, winter is best suited to pack bags and set off to a new destination.
 
“I love travelling during the winter. I take off to the mountains. The biting cold seems to open up all my senses and makes them sharper,” Singh, an avid traveller, told IANS.
 
“Be it para-gliding, trekking or bunjee jumping, I do it all. My wife and friends are game for it. Winter certainly is the best time for such adventure."
 
Winter travellers are by no means rare species any more.
 
More Indians are finding winter travel exciting. That is perhaps the reason why men and women, with children in tow, make a beeline for the Himalayan spots for a glimpse of the first snowfall, or just to brave the chill.
 
The travel industry is exploiting the season with attractive packages.
 
“A winter break has become almost as mandatory for Indians as vacationing in the summer. In fact, Indians have started exploring not only domestic but also international destinations during the shorter winter break,” Sharat Dhall, president, Yatra.com, told IANS.
 
The popular travel portal claimed that its bookings were 132 percent higher than the previous year in the winter season.
 
Added Ranjeet Oak, Chief Business Officer-Holidays, MakeMyTrip.com, India’s leading online travel company: “Winter tourism as a concept has picked up in India. 
 
“With the growing popularity of adventure tourism in India, winter snow sports have become a hot tourist attraction. Gulmarg (Kashmir) is considered one of the best skiing destinations in the world.”
 
Yatra.com offers special packages like “Alluring Gangtok” (starting from Rs.10,650) to “Manali Super Saver” (starting from Rs.5,999) and “Hilly Escapades in Himachal” (starting from Rs.10,900) to woo travellers.
 
The Associated Chambers of Commerce and Industry (Assocham) acknowledges that winter is the best season for the tourism industry's growth.
 
Assocham secretary general D.S. Rawat told IANS that winters were ideally the best season across India.
 
As per Assocham estimates, over 15 lakh domestic and foreign travellers would have visited tourist attractions across India in the winter (December-February).
 
Most demand has been for Himachal Pradesh, Jammu and Kashmir, Rajasthan, Uttarakhand and Uttar Pradesh.
 
Those going abroad prefer Dubai, Hong Kong, Malaysia, the Maldives, Mauritius, Sri Lanka, Singapore and other affordable destinations.
 
Hari Nair, founder and CEO of Holiday IQ, told IANS that Thailand, Malaysia and Singapore were among the popular international destinations for Indians in winter.
 
Indians on an average spent Rs.82,000 in 2014. This rose to Rs.100,000 in 2015, said Nair, adding that average trip length of an international destination has gone up by 14 days.
 
Adventure travel is the biggest attraction among couples. 
 
Nair said 52 percent of adventure travel business goes to couple-travellers. Families comprise 21 percent and only nine percent are single tourists.
 
He said the top 10 winter activities included trekking, wildlife safaris, paragliding, skiing, rock climbing, jet skiing, river rafting and surfing.
 
So get ready and strap your boots!
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)