Thu May 01 19:00:00 UTC 2025: ## Zomato Profits Plunge, Zoho Scraps Chipmaking Plans, and Adobe Bets Big on India’s Creative Economy

**Mumbai, India** – India’s tech sector saw a mixed bag of news this week, with significant developments across various companies. Food delivery giant Zomato (formerly Eternal) reported a 78% year-on-year drop in Q4 FY25 profits, falling to Rs 39 crore from Rs 175 crore, significantly lower than projected growth. CEO Deepinder Goyal cited multiple factors for the decline. Meanwhile, SaaS company Zoho Corp unexpectedly abandoned its ambitious $700 million plan to enter semiconductor manufacturing due to difficulties finding a suitable technology partner. This setback casts a shadow on India’s efforts to establish itself as a global chipmaking hub. In a more positive development, Adobe CEO Shantanu Narayen highlighted the potential of India’s creative economy, emphasizing its role in driving future economic growth. The article also mentions the Traders Gurukul’s BOTS summit, a significant event for retail option traders in India.

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