Tue Jan 21 09:27:15 IST 2025: ## Zomato Reports Mixed Q3 Results: Profit Down, Revenue Up, Blinkit Losses Rise

**MUMBAI, INDIA** – Food delivery giant Zomato announced mixed results for its third quarter (Q3) of fiscal year 2024-25, reporting a significant decline in profit despite strong revenue growth. The company’s net profit after tax (PAT) plummeted 57 percent year-on-year to Rs 59 crore, compared to Rs 138 crore in the same period last year. This follows a Q2 PAT of Rs 176 crore.

However, Zomato’s revenue from operations surged 64 percent year-on-year to Rs 5,404 crore, driven primarily by its food delivery business, which saw a revenue increase to Rs 2,413 crore. While adjusted EBITDA improved year-on-year, it declined sequentially due to investments in its quick commerce arm, Blinkit.

Blinkit, which experienced an 117 percent year-on-year revenue increase to Rs 1,399 crore, reported an adjusted EBITDA loss of Rs 103 crore, significantly higher than the previous quarter. The increase is attributed to accelerated growth investments. Blinkit’s dark store count also increased substantially, reaching 1,007 stores.

Zomato’s “Going Out” business, encompassing its dining-out and newly launched District app (acquired from Paytm Insider), saw a substantial 254 percent year-on-year revenue jump, reaching Rs 259 crore. The company anticipates further growth in this segment. The B2B supplies vertical, Hyperpure, also performed well with a 95 percent year-on-year revenue increase.

Despite the overall profit decline, Zomato’s cash balance strengthened to Rs 19,235 crore thanks to a recent fundraise. The company remains optimistic about long-term growth, projecting over 20 percent yearly growth in its food delivery GOV. However, it acknowledges a current slowdown in demand, starting in November. Zomato’s management expects margin improvement in the coming quarters. The company’s average monthly transacting customers (MTCs) for food delivery slightly decreased.

The report also mentions the Traders Gurukul’s “BOTS” options trading summit, held regularly across major Indian cities, and highlights the potential for new revenue generation through improved user access and lead generation for brokers in the crypto market. The article concludes with calls to readers to stay updated on market trends through various resources.

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