Zomato, the restaurant aggregator, has ventured into logistics under the ‘Xtreme’ brand in what is seen as an attempt to diversify its income stream.
The service, which is now available on the Android platform, is targeted at merchants.
“Introducing Xtreme, the ultimate solution for merchants looking to streamline package deliveries.
“Say goodbye to delivery hassles and welcome a seamless experience! Effortless Deliveries: Xtreme simplifies the entire delivery process, making it easy for merchants to send packages to their valued customers. Whether you’re a small shop or a large retailer, we’ve got you covered,” the firm said on its homepage.
It added that like food delivery, the new service will enable merchants and their customers to track their packages live.
However, for now, merchants can send intra-city packages that weigh up to 10 kg with the price starting at Rs 35.
Zomato added that it already has over 3 lakh delivery partners under Xtreme. There were no official comments from the company on the new service.
Shares of the company on Friday finished with gains of 1.14 per cent or Rs 1.25 at Rs 111.05 on the BSE.
The company has been having a good run on the bourses after it reported its first-ever consolidated profit after tax of Rs 2 crore during the April-June quarter of 2023-24.
Zomato had recorded a net loss of Rs 186 crore in the same period of last fiscal.
During the first quarter, its consolidated revenue from operations stood at Rs 2,416 crore against Rs 1,414 crore in the year-ago period, while the total expenses were higher at Rs 2,612 crore against Rs 1,768 crore in the corresponding quarter a year ago.
After the results, Zomato managing director and chief executive officer (CEO) Deepinder Goyal said in a letter to shareholders that the company has been working hard to make its business less complex, and on putting the right people at the right spots within its businesses.
In May he had said that Zomato was confident of achieving profitability for the entire business in the next four quarters.
