Zomato Ltd reported a consolidated net profit of Rs 138 crore in the third quarter ended December 31, 2023, on the back of accelerated growth of quick commerce and steady performance of its core business.
In a letter to shareholders, Zomato s management said that the company s improving margins have been driven by factors like greater ad monetisation and introduction of platform fees.
Zomato, the food delivery company, has reported a substantial surge in net profit, witnessing a nearly fourfold increase (283%) quarter-on-quarter to reach Rs 138 crore. This marked turnaround from the same period last year when the company posted a loss of Rs 34.7 crore., Companies News, Times Now
During the third quarter, Blinkit said its growth was faster than the year-on-year increase in its gross order value (GOV). Blinkits GOV for the quarter ended December 31 doubled to Rs 3,542 crore.