Mon Jan 20 22:33:32 UTC 2025: ## Zomato’s Q3 Profit Plunges 57%, Despite Revenue Surge

**NEW DELHI** – Food delivery giant Zomato reported a significant drop in net profit for the third quarter of the current fiscal year, down 57% year-on-year to ₹59 crore (approximately $7.1 million USD). This is a sharp decline from ₹138 crore in the same period last year and represents a 66.5% fall compared to Q2’s ₹176 crore.

Despite the profit slump, Zomato’s operational revenue saw a substantial 64% year-on-year increase, reaching ₹5,405 crore. This growth was driven by strong performance across multiple segments. Food delivery revenue saw a modest increase to ₹2,413 crore. Its quick commerce unit, Blinkit, experienced a 21% rise in revenue to ₹1,399 crore, exceeding 1,000 dark stores. The “going out” segment also showed robust growth, with revenue increasing by 68% to ₹259 crore. Finally, the business-to-business supply business, Hyperpure, saw a 13.4% revenue increase to ₹1,671 crore.

Although the company’s consolidated EBITDA increased by 128% year-on-year to ₹285 crore due to improvements in food delivery, it decreased by 14% compared to the previous quarter. Zomato attributed this quarterly EBITDA decline to expansion in its quick commerce network.

Despite the profit decrease, Zomato’s cash reserves increased to ₹19,235 crore after receiving ₹8,446 crore from Qualified Institutional Placement (QIP). The company’s Gross Order Value (GOV) also showed an increase, but fell slightly short of earlier projections.

While the results highlight a mixed bag for Zomato, the company maintains a positive outlook, emphasizing growth in key segments and a strong cash position. Further analysis is required to fully understand the implications of these Q3 results on the company’s long-term strategy.

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