Eternal Limited, the parent company of Zomato, reported a 47.1% decrease in net profit to Rs 92 crore in the April-June period compared to Rs 174 crore in the previous quarter. However, Zomato itself experienced a significant 268% growth in consolidated net profit year-on-year in Q1. The company’s adjusted revenue rose by 173% YoY to Rs 20,648 crore, while adjusted EBITDA surged by 223% YoY to Rs 555 crore.
Quick Commerce net order value (NOV) for Zomato increased by 86% YoY to Rs 17,132 crore, with the business achieving Rs 102 crore in adjusted EBITDA profit and marking the fifth consecutive quarter of margin improvement. According to a statement by the company, growth and margins are expected to compound together as the platform becomes more useful to a wider audience, driving frequency, density, and efficiency.
Zomato’s subsidiary, Blinkit, expanded its network by adding 200 net new stores, bringing the total to 2,443 stores. The company also made investments in assortment expansion, geographical reach, and demand densification. The NOV for food delivery surpassed Rs 10,769 crore, growing over 20% YoY, with an improved adjusted EBITDA margin of 5.6%, resulting in a profit of Rs 606 crore.
Hyperpure, another segment of Zomato, saw a 27% YoY revenue growth to Rs 1,034 crore and reported positive adjusted EBITDA, generating a profit of Rs 6 crore compared to a loss in the same quarter last year. The company remains focused on long-term growth through assortment expansion, geographical reach, and demand densification. Additionally, Zomato plans to introduce ‘gourmet’ stores in top eight cities to enhance premiumization and offer curated premium brands across various categories.
