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Zomato invests Rs 500 Cr in Blinkit

EntrackrEntrackr · 5m ago
Zomato invests Rs 500 Cr in Blinkit
Medial

Food tech giant Zomato has invested Rs 500 crore (nearly $60 million) in its quick commerce subsidiary, Blinkit, bringing its total investment in the quick commerce segment to Rs 2,800 crore since the acquisition. The board has Blinkit has passed a resolution to issue 2,537 equity shares at an issue price of Rs 19,70,181 each to raise Rs 500 crore, its regulatory filing accessed from the Registrar of Companies shows. The capital injection into Blinkit comes just two months after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP). The primary objective of that fundraising was to strengthen Zomato's financial position, enabling business expansion and strategic initiatives, particularly in the quick commerce segment through Blinkit. This marks Zomato's second capital infusion in Blinkit within seven months. In June 2024, it invested Rs 300 crore ($36 million) into the Albinder Dhindsa-led company. Blinkit, formerly known as Grofers, was acquired by the food delivery giant in an all-stock deal valued at Rs 4,477 crore ($568 million).

Zomato posts Rs 175 Cr PAT in Q4 FY24, revenue grows 8.3%

EntrackrEntrackr · 1y ago
Zomato posts Rs 175 Cr PAT in Q4 FY24, revenue grows 8.3%
Medial

Foodtech and quick commerce platform Zomato on Monday released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY24). With the steady expansion, the company has witnessed around 27% increase in its profit along with marginal growth in revenue. Zomato’s revenue from operations grew 8.3% to Rs 3,562 crore in Q4 FY24 in contrast to Rs 3,288 crore in Q3 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange. With this, Zomato’s overall revenue for the fiscal year ending March 2024 jumped 71% to Rs 12,114 crore from Rs 7,079 in FY23. Zomato operates several business units including a food marketplace, Hyperpure and quick commerce platform BlinkIt. Income from food and delivery biz accounted for 48.8% in Q4 FY24 which grew 2.1% to Rs 1,739 in Q4 FY24 from Rs Rs 1,704 crore in Q3 FY24. The collections from Hyperpure supplies (B2B) and quick commerce vertical (Blinkit) grew 10.7% and 19.4% to Rs 951 crore and Rs 769 crore, respectively. Earning from “Going-out” and other non-operating income took Zomato Group’s overall revenue to Rs 3,797 crore in Q4 FY24. The cost for delivery and related charges formed 30.7% of the overall expenditure which increased 4.7% to Rs 1,118 crore in Q4 FY24. Its cost of procurement, employee benefits, advertising, and marketing pushed its overall expenditure to Rs 3,636 in Q4FY24 from Rs 3,382 in Q3FY24. The optimum cost mechanism and increased scale helped Zomato to record a 26.8% hike in its profits to Rs 175 in Q4 FY24 from Rs 138 crore in Q3 FY24. On a unit level, the Gurugram-based company spent Rs 1.02 to earn a rupee in Q4 FY24.

Breaking down BlinkIt’s growth by its numbers in Q1 FY25

EntrackrEntrackr · 11m ago
Breaking down BlinkIt’s growth by its numbers in Q1 FY25
Medial

Blinkit has displayed outstanding growth since getting acquired by Zomato in 2022, a deal that many considered a distressed one, for $569 million. Not only the quick commerce firm has seen growth in topline but also turned profitable*. Many experts are apprehensive about the quick commerce model as they believe economics won’t work out in the ten-minute delivery. Blinkit, however, appears to have proven this notion wrong through its latest numbers. Blinkit saw an exceptional 2.4X year-on-year growth in revenue to Rs 942 crore in June 2024 from Rs 384 crore in June 2023, its financial statements filed by the Zomato Group with the NSE show. The consistent growth in scale and effective cost-cutting measures enabled Blinkit to turn around its bottom line —shifting from a loss of Rs 105 crore in Q1 FY23 to a profit of Rs 43 crore in the last quarter. Importantly, Blinkit’s profit zoomed 23X QoQ to Rs 43 crore in Q1 FY25 from Rs 2 crore Q4 FY24. The quick commerce biz along with Hyperpure spiked the Zomato group’s profit by 44.6% to Rs 253 crore in Q1 FY25 *Caveat: Blinkit’s profit figures do not include other income and non-cash elements including ESOPs, depreciation and finance costs. As per Zomato, BlinkIt’s adjusted EBITDA stood at negative Rs 3 crore in the last quarter of the ongoing fiscal year (Q1 FY25). Blinkit’s gross order value (GOV) surged 2.3X to Rs 4,923 crore in Q1 FY25 from Rs 2,140 in Q1 FY FY24 while its numbers of order grew in a similar pattern to 78.8 million during the same period. The Q1 numbers drive home the point that you underestimate, or even write off Zomato at your own peril. Besides an almost Teflon-like ability to shrug off controversies, the firm has built a bit of a reputation for its unconventional approach to business, including its marketing, with the numbers to justify it. Even now, many people have rushed to say Blinkit will be the horse pulling the group wagon soon, but we wouldn’t go as far as that. Besides the almost duopoly we have in the market today nationally between Zomato and Swiggy, Zomato’s other diversifications might yet surprise too. Be it Dine Out or Live events, none have come with quite the barrage of negativism that had greeted Blinkit, and yet, we know the story only too well. Zomato’s high valuation certainly has enough behind it for now.

Zomato secures Rs 8,500 Cr via QIP

EntrackrEntrackr · 7m ago
Zomato secures Rs 8,500 Cr via QIP
Medial

Zomato Limited announced on Friday that it has raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares. Last week, the foodtech firm received shareholders’ approval for the fundraise. The issuance involved 33,64,73,755 equity shares at Rs 252.62 each, including a premium of Rs 251.62 per share. This issuance price represents a 5% discount on the determined floor price of Rs 265.91 per share, the company informed in its stock exchange filings. This capital infusion is expected to bolster Zomato's financial position, facilitating business expansion and strategic initiatives, especially in the quick commerce space via Blinkit. The offering, which opened on November 25 and closed on November 28, received approval from Zomato’s Fund Raising Committee during its meeting held earlier today. Prominent mutual funds, such as ICICI Prudential and Motilal Oswal, were among the significant allottees, with the latter acquiring a total of 6.92 crore shares, accounting for 20.81% of the issue size. After the transaction, Zomato’s paid-up equity share capital has risen to Rs 917.28 crore. For the fiscal year ending in, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore in Q2 FY25 from Rs 2,848 crore in Q2 FY24. The company also recorded a 4.8x increase in net profit to Rs 176 crore in the September quarter. A recent report by Motilal Oswal highlights that Blinkit, owned by Zomato, dominates the quick commerce market with a 46% share. Zepto holds the second position with a 29% share, while Swiggy Instamart follows in third place with a 25% market share. Compared to the closing price of last Friday (November 22), Zomato saw a 6.8% rise to Rs 282 per share at 11:30 AM on November 29, 2024. The company’s market cap currently stands at around Rs 2,35,481 crore or $28 billion, while its closest rival, Swiggy, is trading at Rs 470 per share with a market cap of Rs 90,712 crore or $10.7 billion.

Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1FY25

EntrackrEntrackr · 11m ago
Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1FY25
Medial

Foodtech and quick commerce platform Zomato on Thursday released its financial results for the first quarter of the ongoing fiscal year (Q1 FY25). The Gurugram-based company has reported around an 18.1% increase in revenue with a 44.6% growth in profits. Zomato’s revenue from operations grew to Rs 4,206 crore in Q1 FY25 as compared to Rs 3,562 crore in Q4 FY24, its consolidated financial results sourced from the National Stock Exchange (NSE) show. Zomato’s food and delivery biz accounted for 46.17% of the total collection in Q1 FY25 which grew 11.7% to Rs 1,942 crore in Q1 FY25. The revenue from Hyperpure supplies (B2B) and quick commerce vertical (Blinkit) grew 27.4% and 22.5% to Rs 1,212 crore and Rs 942 crore, respectively. Income from “going-out” and other non-operating income took Zomato Group’s overall revenue to Rs 4,442 crore in Q1 FY25. Being a food tech major, the cost for delivery and related charges formed 31.6% of the overall expenditure which increased 18.8% to Rs 1,328 crore in Q1 FY25. The firm’s spending on procurement, employee benefits, advertising, and marketing pushed its overall expenditure to Rs crore 4,203 in Q1FY25 from Rs 3,636 crore in Q4FY24. A stellar growth in scale allowed Zomato to record a 44.6% spike in its profits to Rs 253 crore in Q1 FY25 from Rs 175 crore in Q4 FY24. On a unit level, the company spent Rs 0.99 to earn a rupee in Q1 FY25. With the consistent gain in its market cap, the food tech firm also rewarded its employees with an additional ESOP plan of $458 million. Zomato’s initial public offering opened at Rs 115, a 51% increase from its price band of Rs 76. The company’s current share price is Rs 237.9 (as of 03.40 PM), with a total market capitalization of over $25 billion, which led to Deepinder Goyal becoming a billionaire last month.

Zomato’s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%

EntrackrEntrackr · 2m ago
Zomato’s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%
Medial

Zomato’s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%. Zomato’s revenue from operations grew 64% to Rs 5,833 crore in Q4 FY25 in contrast to Rs 3,562 crore in Q4 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). Despite strong revenue growth following steady expansion, the Gurugram-based company reported a sharp 78% decline in profit for the quarter ending March 2025. Eternal’s revenue from operations grew 64% to Rs 5,833 crore in Q4 FY25 in contrast to Rs 3,562 crore in Q4 FY24. With this, Eternal’s overall revenue for the fiscal year ending March 2025 jumped 67% to Rs 20,243 crore from Rs 12,114 crore in FY24. Eternal operates several business units, including a food marketplace, Hyperpure, and quick commerce platform BlinkIt. Income from Eternal’s food delivery business contributed 35% of the total revenue in Q4 FY25, growing 18% to Rs 2,054 crore from Rs 1,739 crore in Q4 FY24. Revenue from Hyperpure (B2B supplies) and the quick commerce segment (Blinkit) saw significant growth, rising 93% to Rs 1,840 crore and 122% to Rs 1,709 crore, respectively, during the last quarter of FY25. Earnings from the 'Going-out' segment and other non-operating income brought the Eternal Group’s total revenue to Rs 6,201 crore in Q4 FY25. Delivery and related charges accounted for 25% of Eternal's total expenditure, at Rs 1,552 crore in Q4 FY25. Employee benefit cost rose 89% to Rs 1632 crore, while spending on advertising and marketing increased by 63% to Rs 634 crore in FY24. Overall, the company’s overall expenditure increased by 68% to Rs 6,104 crore in Q4 FY25, up from Rs 3,636 crore in Q3 FY25. An increase in current tax expenses to Rs 74 crore led to a 78% drop in the company’s profit after tax, which fell to Rs 39 crore in Q4 FY25 from Rs 175 crore in Q4 FY24. On a per-unit basis, the Gurugram-based company spent Rs 1.04 to earn every rupee of revenue during the quarter ending March 2025.

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