New Delhi, May 1 (IANS) Eternal Ltd (formerly Zomato) on Thursday reported a massive 77 per cent decline in consolidated net profit at Rs 39 crore in the fourth quarter (Q4 FY25) — from Rs 175 crore in the year-ago quarter.
On the quarterly basis, the food delivery major Zomato, which owns Blinkit, suffered a net profit loss of 33 per cent — from Rs 59 crore in October-December period (Q3 FY25).
Total expanses grew 67 per cent (on-year), from Rs 3,636 crore to Rs 6,104 crore. On QoQ basis, the expenses increased over 10 per cent.
The food delivery company’s consolidated revenue from operations grew 64 per cent to Rs 5,833 crore, as against Rs 3,562 crore in the corresponding January-March quarter of the previous financial year.
During the quarter under review, Zomato’s total income rose to Rs 6,201 crore, against Rs 3,797 in the year-ago period. It’s expenses also shot up to Rs 6,104 crore, from Rs 3,636 crore.
Zomato’s shares closed at Rs 232.5 apiece on the BSE, up 0.58 per cent.
According to the company’s stock exchange filing, Blinkit has added 294 net new stores in Q4, and is on track to get to 2,000 stores by December 25.
“We don’t see any long-term structural reason for this slowdown, as the fundamentals – low penetration of restaurant food and increasing urbanisation and per capita income in India – remain unchanged,” said Deepinder Goyal, Founder and CEO, Eternal.
“We have a number of promising initiatives in the pipeline – hoping some of them will work and lead to higher growth, without compromising on profitability, he added.
Starting Q4 FY25, the company has started reporting net order value or NOV (in addition to GOV) for its B2C businesses (food delivery, quick commerce and going-out).
“NOV of our B2C businesses grew 53 per cent YoY (5 per cent QoQ) to Rs 17,440 crore in Q4 FY25,” informed the company.
According to Albinder Dhindsa, Founder and CEO, Blinkit, they will continue to focus on improving customer experience with more consistent delivery and fulfillment experience and increase the breadth of product categories that customers can reliably buy from Blinkit.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
