🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Despite numbers, Zomato must tweak Gold to cut profitability drag, say experts

Economic TimesEconomic Times · 1y ago
Despite numbers, Zomato must tweak Gold to cut profitability drag, say experts
Medial

Analysts and experts suggest that Zomato's loyalty program, Gold, needs adjustments to avoid negatively impacting the company's profitability. While Gold contributes to a significant portion of Zomato's food delivery gross order value, the program's benefits result in lower profitability compared to non-Gold orders. Zomato's CFO acknowledges the need for improvement, aiming to increase margins from Gold customers without hindering growth. The discount-led strategy used to drive Gold adoption led to higher-than-expected membership numbers. Going forward, Zomato plans to slow down the pace of Gold membership growth and reduce the margin gap between Gold and non-Gold orders.

GST collections rise 6.5% YoY to Rs 1.73 lakh crore in September

Money ControlMoney Control · 11m ago
GST collections rise 6.5% YoY to Rs 1.73 lakh crore in September
Medial

- GST collections in September amounted to Rs 1.73 lakh crore, registering a 6.5% growth compared to the same month last year. - This marks the second consecutive month of single-digit growth and the slowest pace of growth in 39 months. - Average monthly GST collections in the second quarter declined to Rs 1.77 lakh crore from Rs 1.86 lakh crore in the first quarter of FY25. - However, September's collections still exceeded Rs 1.7 lakh crore for the seventh consecutive month. - In the first six months of the year, GST collections reached Rs 10.87 lakh crore, representing a 9.6% increase compared to the same period last year. - Net GST revenues grew by 3.9% to Rs 1.53 lakh crore, as refunds saw a significant surge, particularly for domestic (24.3%) and IGST (39.2%) refunds.

Kenko Health shuts down; investors drag insurtech startup to NCLT

Economic TimesEconomic Times · 1y ago
Kenko Health shuts down; investors drag insurtech startup to NCLT
Medial

Insuretech startup Kenko Health has closed down due to a lack of funds. The company, backed by investors including Sequoia Capital India and Orios Venture Partners, was taken to the National Company Law Tribunal by a debt fund. Kenko had not paid its employees for several months and had previously laid off 20% of its workforce. The startup had applied for a health insurance license but needed fresh funds. However, a proposed investment plan was opposed by some existing investors, resulting in a stalemate. Kenko's founders held a 36% stake in the company, with Peak XV, Beenext, and Orios having smaller stakes. The startup had raised $13.7 million in funding and recorded a net loss of $8.5 million in fiscal 2023.

Download the medial app to read full posts, comements and news.