New Delhi, May 13 (SocialNews.XYZ) Zomato on Monday said that its quick commerce business Blinkit turned adjusted EBITDA positive in March, as the online food delivery platform clocked Rs 194 crore in adjusted EBITDA for the January-March quarter of FY24.
The consolidated adjusted EBITDA improved by Rs 369 crore as compared to the same quarter last year.
The adjusted revenue was Rs 3,873 crore, a 61 per cent growth (year-on-year) for the quarter, as food gross order delivery (GOV) grew 28 per cent (on-year), the company said in a statement.
"We could not have imagined the current state of all four of our businesses – food delivery, Blinkit, Going-out and Hyperpure. I think the team has executed phenomenally well over the last couple of years," said Deepinder Goyal, Founder and CEO, Zomato.
The company added 75 new stores in the fourth quarter of FY24, taking the total store count to 526.
Zomato aims to reach 1,000 Blinkit stores by the end of FY25.
"In addition to scaling up the existing store network and use cases, we will be adding more use cases so the Blinkit platform is even more useful in the everyday lives of our customers," said Albinder Dhindsa, Founder and CEO, Blinkit.
According to the latest Goldman Sachs report, quick delivery service Blinkit has become more valuable than Zomato’s core food delivery business.
For Zomato's Hyperpure B2B business, the revenue grew by 99 per cent (YoY).
Source: IANS
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