Online food aggregator Zomato reported a net profit gain of nearly 126% on Thursday, reaching Rs 253 crore in the April-June quarter (Q1 FY25), up from Rs 2 crore in the same quarter the previous year.
In Q1 FY25, the Deepinder Goyal-led company announced sales growth of 74% (year over year) to Rs 4,206 crore.
Over the previous year, the internet food service platform’s stock price increased by 174%.
With adjusted EBITDA rising to Rs 299 crore from Rs 194 crore in the prior quarter, mostly due to margin expansion across all four sectors, Zomato reported that its bottom line is still growing.
The takeout industry is currently profitable and running at a $500 million annualized gross order value (GOV) run-rate.
“Building on the success of our dining-out company, there is room to further extend our going-out offering. Goyal stated, “We have already launched a few of the additional use cases for clients in the going out area, such as movies, sports ticketing, live performances, shopping, and staycations.
“If we execute this well, we see going out becoming the 3rd large B2C business emerging out of Zomato,” he stated.
Going out, rapid commerce, and meal delivery are B2C sectors where the GOV grew at an accelerated rate of 53% to Rs 15,455 crore.
GOV quick commerce (Blinkit) increased 130% year over year. As long as it continues to turn a profit, the company hopes to reach 1,000 Blinkit stores by March 2025 and 2,000 outlets by the end of 2026. In the top ten cities, the majority of these stores will be added.
“GOV throughput per store of our existing network has grown from about Rs 6 lakh per day per store when we were at 383 stores exactly a year ago to about Rs 10 lakh today when we are at 639 stores,” the business stated. This amounts to Rs 18 lakh per day each store for its top 50 stores.
“Over the last six quarters, we have launched and scaled products in electronics, beauty and make-up, pet care, and children’s toys and we will continue to invest behind opportunities in newer categories as well,” stated Albinder Dhindsa, Founder and CEO of “In certain locations, we can now provide our customers with up to 25,000 unique stock-keeping units,” he continued.
