Zomato, Q3 Results FY25, Zomato India’s leading food delivery and restaurant discovery platform, reported its financial results for the third quarter ending December 31, 2024. The company experienced a 57% year-on-year decline in net profit, amounting to ₹59 crore, down from ₹138 crore in the same period the previous year.
Despite the drop in profit, Zomato’s revenue from operations surged by 64% year-on-year to ₹5,405 crore, compared to ₹3,288 crore in the corresponding quarter of the previous fiscal year.
This growth was primarily driven by the festive season, including events like Christmas and Deepavali, which traditionally see increased consumer spending.
Zomato Q3 Results (FY25) Points:
1. Financial Overview
Net Profit: ₹59 crore (57% YoY decline from ₹138 crore)
Revenue from Operations: ₹5,405 crore (64% YoY growth from ₹3,288 crore)
Reason for Revenue Growth: Festive season sales (Christmas, Deepavali, and New Year)
2. Food Delivery Business
Adjusted Revenue: ₹2,413 crore (YoY growth from ₹2,062 crore)
Gross Order Value (GOV): ₹9,913 crore (17% YoY increase)
Average Monthly Transacting Customers: 20.5 million (slight drop from 20.7 million)
3. Blinkit (Quick Commerce Business)
Revenue: ₹1,399 crore (117% YoY increase)
GOV: ₹7,798 crore (120% YoY growth)
Average Order Value: ₹700 (up from ₹660 last quarter)
Number of Dark Stores: 1,007 (up from 791 last quarter)
EBITDA Loss: ₹103 crore due to store expansion and competition
4. Other Business Segments
Going Out Business (Dining & Entertainment): ₹259 crore (68% QoQ growth)
Hyperpure (B2B Supplies): ₹1,671 crore (13.4% QoQ increase)
5. Market Impact
Stock Performance: Zomato shares declined by 3.6% post results
Investor Concerns: Profit slump and pressure on margins due to Blinkit expansion
For further details, check:
Food Delivery Segment:
The adjusted revenue for Zomato’s core food delivery business rose to ₹2,413 crore in Q3 FY25, up from ₹2,062 crore in the same quarter the previous year.
Gross Order Value (GOV) increased to ₹9,913 crore, reflecting a 17% year-on-year growth.
Average monthly transacting customers slightly decreased to 20.5 million from 20.7 million in the previous quarter.
Blinkit (Quick Commerce Segment):
Blinkit, Zomato’s quick commerce platform, reported a revenue increase of over 117% year-on-year to ₹1,399 crore.
The segment’s GOV rose to ₹7,798 crore, marking a 120% year-on-year growth.
Average order value crossed ₹700, up from ₹660 in the previous quarter.
The number of dark stores expanded to 1,007 in Q3, compared to 791 in the previous quarter.
The expansion of Blinkit has exerted pressure on Zomato’s margins, leading to an adjusted EBITDA loss of ₹103 crore for the segment.
The company attributed this to increased competition and investments in opening more fulfillment centers.
Other Business Segments:
The ‘Going Out’ business, which includes dining and entertainment services, saw its revenue jump 68% quarter-on-quarter to ₹259 crore.
Hyperpure, Zomato’s B2B supplies vertical, recorded a 13.4% quarter-on-quarter increase in revenue to ₹1,671 crore.
Following the announcement of these results, Zomato’s shares declined by 3.6%, reflecting investor concerns over the profit slump and margin pressures.
