As Zomato continued to build on the momentum in the first two quarters of FY24, Deepinder Goyal, CEO of Zomato shares the highlights of Zomato’s Q3FY24 shareholders’ letter and results.
On the profitability front, consolidated Adjusted EBITDA was positive for the third consecutive quarter at INR 125 crore and improved by INR 390 crore as compared to the same quarter last year.
GOV across Zomato’s B2C businesses grew 47% YoY (13% QoQ) to INR 12,886 crore – this includes a 27%, 103% and 154% growth in food delivery (Zomato), quick commerce (Blink It) and Going-out verticals respectively. On an annualised basis, Zomato has crossed INR 50,000 crore of GOV in their B2C businesses.
Consolidated Adjusted Revenue grew 53% YoY (12% QoQ) to INR 3,609 crore.
On Going-out, Zomato has launched events ticketing platform in nine cities in India.
Zomato is also recognising restaurant partners who use plastic-free packaging through a ‘Plastic-free-order’ banner on the app.
Zomato also launched a first-responder training program for delivery partners and an industry first maternity insurance plan for women delivery partners.