BIG blow to Deepinder Goyal as Zomato's Q4 net profit declines 77 per cent, earns only Rs...

Deepinder Goyal's Zomato (now Eternal Ltd) has reported a massive 77 per cent decline in consolidated net profit at Rs 39 crore in the fourth quarter (Q4 FY25). The company saw Rs 175 crore profit in the same period a year ago. Eternal Ltd operates food delivery platform Zomato and quick commerce firm Blinkit. On a quarterly basis, the food delivery major Zomato suffered a net profit loss of 33 per cent -- from Rs 59 crore in October-December period (Q3 FY25). Total expenses 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.

Eternal consolidated revenue

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 crore in the year-ago period. Its expenses also shot up to Rs 6,104 crore, from Rs 3,636 crore.

Zomato's shares 

Zomato's shares closed at Rs 231.43 apiece on the NSE, up 0.14 per cent. The company currently has a market cap of Rs 2.11 lakh crore. 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.

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“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.

(With inputs from IANS)