Eternal founder and former chief executive officer Deepinder Goyal on Wednesday brushed aside the competitive threat from Rapido and Swiggy's recent foray into budget food delivery, saying the company's business has seen only a limited impact from the low-cost offerings and arguing that the model lacks sustainable economics.
Responding to shareholder questions after the company's April-June quarter earnings, Goyal said the impact of Ownly, Rapido's budget food delivery platform, and Toing, Swiggy's offering in the segment, had been "limited" so far.
