Highlights
Financial Results of Zomato for Q3 FY25
Foodtech and quick commerce platform Zomato announced its financial performance for the third quarter of the current fiscal year (Q3 FY25) on Monday. The results indicate noteworthy growth in revenue, although year-on-year (YoY) profits experienced a significant decline of 57% during this period.
Revenue Highlights
According to the company’s consolidated financial statements from the National Stock Exchange, Zomato’s operational revenue surged by 64.4%, reaching Rs 5,405 crore in Q3 FY25 compared to Rs 3,288 crore in Q3 FY24. This also marks a 12.6% increase over the previous quarter (Q2 FY25), which reported Rs 4,799 crore.
Business Segments
Zomato operates numerous business units, including:
- A food marketplace that connects end-users, restaurants, and delivery personnel.
- Hyperpure, which supplies farm-to-fork goods to restaurants and businesses.
- Blinkit, offering kirana, FMCG, and other essentials within 10 minutes.
- Dining.out and Zomato Live, enabling users to discover restaurants, book tables, and reserve tickets for entertainment events.
During Q3, the food ordering and delivery segment contributed 38.3% to the total operating revenue, amounting to Rs 2,072 crore. Revenue from Hyperpure increased by 13.4% to reach Rs 1,671 crore, while Blinkit brought in Rs 1,399 crore. Additional income was generated from the ‘Going-out’ segment and various other operations during the quarter ending December 2024.
Blinkit’s Performance
Blinkit’s revenue saw a remarkable YoY increase of over 117%, climbing from Rs 644 crore in Q3 FY24.
As a point of reference, Zomato invested Rs 500 crore (approximately $60 million) in Blinkit, raising its total investment in the company to Rs 2,800 crore since its acquisition.
Non-Operating Income
Furthermore, Zomato reported Rs 252 crore in non-operating income (primarily accrued from interest and gains on financial assets) in Q3 FY25. Consequently, the overall revenue for the quarter reached Rs 5,657 crore.
Expense Overview
In terms of expenses, delivery and related charges accounted for 26% of the total, reaching Rs 1,450 crore. The cost of purchasing stock (adjusted for inventory changes) was Rs 1,500 crore, while expenditure on employee benefits totalled Rs 689 crore. Zomato also allocated Rs 521 crore for advertising and promotions, resulting in a total expenditure of Rs 5,533 crore in Q3 FY25, which reflects a 63.6% YoY increase.
Profit and Loss
Due to rising expenses, Zomato’s profits plummeted 57.2% YoY to Rs 59 crore in Q3. In the preceding quarter (Q2 FY25), profits stood at Rs 176 crore. At a unit level, the company expended Rs 1.02 for every rupee earned in Q3 FY25.
For the nine-month period from April to December 2025, Zomato reported operational revenue of Rs 14,410 crore with profits amounting to Rs 488 crore.
Funding and Achievements
In November 2024, Zomato successfully raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares. The following month, it made history by becoming the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited.
Market Position and Recent Developments
In competition for instant food delivery, Zomato recently reintroduced a 15-minute food delivery service in select cities, as reported by the media.
The company also faced a GST demand notice of Rs 803 crore from the Thane Commissionerate in Maharashtra regarding non-payment of GST on delivery charges, including accrued interest and penalties.
During the first week of January, Zomato’s trading price exceeded Rs 250 prior to a downgrade by foreign brokerage Jefferies, which shifted its rating from ‘buy’ to ‘hold’ due to heightened competition in the quick commerce space. Following this rating adjustment, the stock price fell below Rs 230 but has since rebounded with strong Year-on-Year growth, sitting at Rs 239.9 and boasting a market capitalisation of Rs 2,10,336 crore or $24.3 billion as of 3:23 PM on January 20, 2025. In December 2024, Zomato achieved its highest price ever at Rs 304.5 per share.
