File picture of the Zomato logo on a phone
| Photo Credit: Reuters
Food delivery aggregator Zomato on Thursday reported a multifold jump in consolidated net profit to ₹253 crore for the April-June quarter of 2024-25 compared to ₹2 crore in the year-ago period.
The company’s revenue from operations jumped more than 74% to ₹4,206 crore in the first quarter of this fiscal from ₹2,416 crore in the April-June period of last year, according to a regulatory filing by Zomato.
Its total expenses also rose to ₹4,203 crore during the quarter under review, from ₹2,612 crore a year ago.
The reporting segments for the group include the food ordering and delivery business, Hyperpure Supplies (B2B), its quick commerce offering Blinkit, the going out segment and all other residual segments.
In a letter to shareholders, Zomato Chief Financial Officer Akshant Goyal shared that the gross order value (GOV) growth across its B2C businesses (food delivery, quick commerce and Going-out) accelerated to 53% YoY (14 per cent QoQ) to ₹15,455 crore.
“On the profitability front, consolidated Adjusted EBITDA increased by ₹287 crore YoY to ₹299 crore in Q1FY25 driven by margin expansion in all the four businesses. Business turned Adjusted EBITDA positive exactly one year ago (in Q1FY24), and within a year we are now at an annualised profit of about ₹1,200 crore,” Goyal shared.
Blinkit co-founder and CEO Albinder Dhindsa said the quick commerce firm sees a line of sight of getting to about 2,000 stores for its current business.
“Most of these stores would be in the top 10 cities in India,” he said, adding that beyond the large cities, the size of the market is still undiscovered.
