BENGALURU: Food aggregator Zomato on Thursday reported a consolidated net profit of Rs 253 crore in the first quarter of the financial year 2024-25. The net profit has jumped almost 126 times compared to the same quarter last year. The company had posted Rs 2 crore profit in the year-ago period.
The company’s revenue from operations in the June quarter stood at Rs 4,206 crore, a 74% increase compared to Rs 2,416 crore in the year-ago period.
The company’s food delivery GOV (gross order value) grew 27% year-on-year (YoY) and quick commerce GOV grew 130% YoY.
“Our average gross order value throughput per store 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. For our top 50 stores today, this number is Rs 18 lakh per day per store, and growing,” said Blinkit chief executive officer Albinder Dhindsa said.
“Our dining-out business which helps our customers discover restaurants when they want to go out and dine at restaurants. This dining-out business is now operating at a run-rate of $500m+ annualised GOV and is already profitable,” said Deepinder Goyal, chief executive officer, Zomato.
Zomato sees an opportunity to further expand its going-out offering, building on top of its dining-out business.
The chief executive announced the launch of a new app ‘District’. “If we execute this well, we see going-out becoming the third large B2C business emerging out of Zomato,” Goyal said.