Mumbai9 minutes ago
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Food delivery company Jomato has fired about 600 customer support executives. The company hired these employees under the Jomato Associate Accelerator Program (ZAAP) program last year. Employees have been extracted after launching Artificial Intelligence (AI) platform nuggets.
Through this platform, the company is handling 1.5 crore customer queries every month. Jomato co-founder Deepinder Goyal launched Nagate, saying ‘This platform will make customer support easier and cheaper. There is no need for coding or developer team, just automation will work.
Company focusing on automation
Jomato is now doing customer support in other companies like its blinkit and hyperpire through Nagate. 80% of the Queries are being solved from AI after the arrival of the Nagate. This reduced the time to solve the customer problem by 20%. Compliance has also improved 20%.
8.46% drop dropped in 1 month
Jomato’s stock closed at Rs 203.35 on 1 April today with an increase of 0.82%. The company’s stock has given negative returns of 8.46% in the last one month. The stock has climbed 10.22% in the last one year. Jomato’s market capital is Rs 1.83 lakh crore.
Profit reduced by 57% on annual basis
Jomato made a profit of Rs 59 crore in the third quarter of FY 2024-25. However, it has decreased by 57% on an annual basis. In the same quarter of a year ago, the company had a consolidated profit of Rs 138 crore.
Jomato’s operational revenue rose by 64% to Rs 5,405 crore in the October-December quarter. In the third quarter of FY 2023-24, Jomato generated a revenue of Rs 3,288 crore. The amount from selling goods and services is called revenue or revenue.
