Mon Jan 20 10:00:00 UTC 2025: ## Zomato’s Q3 Profits Plunge Despite Revenue Growth, Shares Dip

**Mumbai, India** – Food delivery giant Zomato Ltd. reported a significant drop in profits for the third quarter of its fiscal year, despite a rise in revenue. While consolidated revenue increased from ₹4799 crore to ₹5405 crore, exceeding expectations slightly (₹5465 crore was projected), consolidated profit plummeted from ₹176 crore in the previous quarter to just ₹59 crore, far below the projected ₹252 crore.

This disappointing performance led to a considerable decrease in operating profit, falling from ₹226 crore to ₹162 crore. Margins also contracted, shrinking from 4.7% to 3%. The company attributed the decline to a rise in other expenses (from ₹830 crore to ₹1083 crore QoQ) and depreciation (from ₹180 crore to ₹247 crore QoQ).

Following the release of the Q3 results, Zomato’s share price experienced a decline of over 2%, trading around ₹243. The substantial miss on profit expectations overshadowed the positive revenue growth, leaving investors concerned about the company’s profitability outlook.

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