Zomato net profit fall 57% to ₹59 crore, Blinkit reports ₹103 crore net loss

Food aggregator Zomato's net profit declined 57.2% to ₹59 crore in the quarter ended December 2024, the company said in an exchange filing on Monday, January 20. In the year-ago period, the profit after tax was ₹138 crore

Revenue from operations increased 64.38% to ₹5,405 crore in Q3 FY25, as compared to ₹3,288 crore in the corresponding period last fiscal.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at ₹162 crore in the quarter under review as against ₹51 crore in Q3 FY24. The EBITDA margin was at 3% vs 1.6% a year back.

Zomato share price

After the announcement, shares of Zomato settled 7.27% lower at ₹230.7 apiece on the National Stock Exchange. Its market capitalisation stood at ₹2,22,633.59 crore.

Blinkit reports ₹103 crore net loss

Blinkit, the quick commerce business of Zomato, reported a 117.23% increase in revenue from operations to ₹1,399 crore as compared to ₹644 crore a year ago.

However, Blinkit posted a net loss of ₹103 crore in the latest October-December quarter.

Deepinder Goyal, the CEO of Zomato, said, " The losses in our quick commerce business this quarter are largely on account of pulling forward the growth investments in the business that we would have otherwise made in a staggered manner over the next few quarters. As of now, it seems like we will get to our target of 2,000 stores by Dec 2025, much earlier than our previous guidance of Dec 2026."

The quick commerce business crossed the 1,000-store mark, one quarter ahead of the plan. It now plans to add 2,000 stores by December 2025, a year ahead of the previous guidance of December 2026.

The gross over value (GOV) of business-to-customer businesses grew 57% year-on-year to ₹20,206 crore in Q3 FY25. Sequentially, it rose 15%.

• Food delivery GOV jumped 17% YoY (2% QoQ)
• Quick commerce GOV climbed 120% YoY (27% QoQ),
• Going-out GOV grew 191% YoY (35% QoQ)

The business-to-business revenue of Hyperpure advanced 95% YoY and 13% QoQ.

On the District app, which allows users to make restaurant reservations, movie tickets and event bookings, the company said the traction has been good. The application, launched in November 2024, has crossed 6.5 million downloads.