Jan 20, 2025 04:52 PM IST
A significant portions of Zomato’s expenses came from purchases of stock-in-trade which grew to ₹1,510 crore from ₹783 crore earlier.
Food delivery giant Zomato Ltd announced its third quarter results for the financial year 2024-25 on Monday, January 20, 2025.
The company’s consolidated revenue from operations rose 64.38% or by ₹2,117 crore to ₹5,405 crore, compared to ₹3,288 crore during the third quarter of the previous year.
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However, its net profit fell by 57.24%, ₹79 crore to ₹59 crore, compared to ₹138 crore in the same quarter of the previous year. However, profit before tax remained the same as last time at ₹124 crore.
This results from total expenses increasing by 63.55% or by ₹2,150 crore to ₹5,533 crore from ₹3,383 crore earlier.
Significant portions of these expenses came from purchases of stock-in-trade, which grew to ₹1,510 crore from ₹783 crore earlier. This is a huge jump of 92.84%, or ₹727 crore.
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Zomato’s quick commerce arm Blinkit is also an important point of focus since this is an extremely competitive and talked about sector with competitors like Swiggy’s Instamart, Zepto, Tata’s BigBasket, and Flipkart’s Minutes fiercely competing with each other.
Blinkit’s revenues expanded significantly by 117.23% or by ₹755 crore, reaching ₹1,399 crore from ₹644 crore during the same quarter of the previous year.
Its losses also narrowed down 46.42%, from ₹56 crore to ₹30 crore.
How did Zomato shares perform?
Zomato Ltd shares closed in the red on the Bombay Stock Exchange (BSE), going down 3.14% or by ₹7.80, reaching ₹240.95.
Meanwhile, the market in general closed in the green with the benchmark BSE Sensex closing 454.11 points or 0.59% in the green, reaching 77,073.44.
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