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| Business EYE |
AUGUST 21, 2020 | The Indian Eye
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sive unlocking.
However, in official state-
ments, firms have chosen to strike a more cautious note. “Looking ahead in to demand for the coming quarter, we are witnessing marginal improve- ment across both domestic and export markets. We expect our domestic revenues to be flat as compared to Q2 FY20 while the exports will be lower than the levels witnessed in Q2 FY20. The sustainability in the recov- ery in underlying demand is a key factor to track in the com- ing months,” said Baba Kalyani, chairman and managing direc- tor of Bharat Forge, in a state-
“out of the 83% restaurants that are not open for busi- ness, 10% restaurants have already shut down per- manently and we anticipate an additional 30% restau- rants to not reopen at all. Remaining 43% are closed right now but likely to open, as the situation becomes better,” the report said. the results are from a survey of over 15,000 restaurants done in august.
worst hit, with 88% and 91% respectively still closed for din- ing-in business, with the outlook for the industry looking bleaker.
Zomato, which has 180,000 restaurants listed on the plat- form and nearly 27 million monthly active users, said that since the lockdown on March 25, it has delivered 70 million orders and estimated that the overall food delivery industry would have done 200 million or- ders. Restaurants in residential areas were found to be doing 50% better than those in com- mercial areas and consumers are moving their spends from eating out to home delivery.
ment.
Meanwhile, India’s online
food delivery industry has re- covered 75-80% of its pre-Covid sales. However, dining-in at
restaurants is still at just 8-10%, according to a report by restau- rant discovery and food delivery platform Zomato. Restaurants in Delhi NCR and Chennai are
w w w. T h e I n d i a n E Y E . u s