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Mother Dairy hikes poly pack milk prices after Amul

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Amul Milk, Mother Dairy, Poly pack milk, Milk Virants, Delhi and NCR, Regional news, Business news

New Delhi: Following the price hike by Amul Milk, Mother Dairy is to raise the consumer prices of its poly pack milk variants in Delhi NCR effective from Saturday, the company said in a statement here.

The Mother Dairy 1 litre pack price has been increased by Re 1 and the 500 ml pack by Rs 2 a litre, effectively impacting the consumer by Re 1 per pack, the statement said.

 

Amul Milk, Mother Dairy, Poly pack milk, Milk Virants, Delhi and NCR, Regional news, Business news

However, no price hike is being made in its Bulk Vended Milk (BVM), popularly known as Token Milk, the company said.

According to Mother Dairy, milk procurement prices have been continuously on the rise for the last three to four months due to the increase in feed and fodder cost by 15-20 per cent as well as labour costs, among others.

However, while paying higher prices to producers by 7-8 per cent compared to last year, the consumer prices had been kept intact.

 

Mother Dairy follows footstep of Amul hikes milk prices in Delhi and NCR:

 

The last consumer price revision in Delhi NCR for poly pack milk was done in March 2017, the company said.

Among the 7 variants that Mother Dairy produces, prices of all except Bulk Vended Milk and Cow Milk (1000 ml) have been hiked by Rs 1-2.

 

Amul Milk, Mother Dairy, Poly pack milk, Milk Virants, Delhi and NCR, Regional news, Business news

 

The new rates for the 1 litre pack of Full Cream Milk will be Rs 53, and the 500 ml pack will cost Rs 27.

Similary, the 1 litre Toned Milk pack will cost Rs 42, while the 500 ml pack will be priced at Rs 22, up from Rs 41 and Rs 21, respectively. Skimmed Milk of 500 ml pack size will now cost Rs 21, up from Rs 20.

Amul Milk prices earlier had been hiked by Rs 2 a litre with effect from Tuesday across all its six brands sold in the major markets of Delhi NCR, Gujarat, West Bengal, Uttarakhand and Maharashtra.

 

Business

Zomato acquires UberEats India for nearly Rs 2,500 crore

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New Delhi: Zomato on Tuesday announced that it has acquired Uber’s Food Delivery Business in India in an all-stock deal and Uber will have 9.99 per cent stake in the Deepinder Goyal-led food delivery platform.

According to sources close to the deal, it is in the range of over $350 million or nearly Rs 2,500 crore.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective from Tuesday.

“We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category,” said Goyal, Founder and CEO, Zomato.

According to company sources, for the first three quarters of 2019, “our Uber Eats business comprised 3 per cent of our global Eats gross bookings, but was more than 25 per cent of our global Eats Segment Adjusted EBITDA losses”.

Uber started its food delivery service in India around mid-2017, but has not been able to scale up in the face of big players like Zomato and Swiggy.

It currently has nearly 26,000 restuarants listed on its platform from over 40 cities.

The market is piping hot as according to a recent study by business consultancy firm Market Research Future, the online food ordering market in India is likely to grow at over 16 per cent annually to touch $17.02 billion by 2023.

Uber CEO Dara Khosrowshahi said that the Uber Eats team in India has achieved an incredible amount over the last two years.

“India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader,” said Khosrowshahi.

“We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success,” he added.

On January 10, Zomato had announced that it has secured $150 million in fresh funding from Ant Financial, a subsidiary of China-based giant Alibaba.

The latest round of funding in Zomato, which currently value the company at $3 billion, is part of $600 million funding round announced by Zomato CEO Goyal at a Delhi event last December.

The deal comes in the wake of merger talks between Zomato and Swiggy, whoch both the companies have denied to date.

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