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Zomato-owned Blinkit's revenue grows by 207% to Rs 724 crore in FY23; What about the loss?

IndianStartupNews

IndianStartupNews · 1y ago

Zomato-owned Blinkit's revenue grows by 207% to Rs 724 crore in FY23; What about the loss?

Blinkit, formerly known as Grofers, has seen a significant surge in revenue in FY23, reaching Rs 724.2 crore from Rs 236.1 crore in FY22. This boost can be attributed to marketplace commissions, advertising solutions, and revenue from delivery and supporting services. However, expenses also increased, resulting in a loss of Rs 1,190 crore for Blinkit in FY23. ROCE and EBITDA margins for the year stood at -213.59% and -119.79% respectively.

Related News

Zepto earns 2024 cr and loses 1272 cr this year

Economic Times

Economic Times · 1y ago

Zepto earns 2024 cr and loses 1272 cr this year

Zepto, India's first unicorn of 2023, reported a substantial increase in revenue for FY23, reaching Rs 2,024 crore, compared to Rs 142.4 crore in the previous year. However, the company incurred a loss of Rs 1,272 crore, three times larger than the Rs 390.4 crore loss in the prior year. Zepto aims to achieve EBITDA breakeven within 10 months while continuing growth. The expansion into new territories drove their revenue growth. Zepto competes in the quick commerce sector against Swiggy Instamart, BlinkIt (Zomato-owned), and BBNow (BigBasket).

Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

Entrackr

Entrackr · 1y ago

Paytm Money posts Rs 40 Cr profit in FY23, scale grows 2X

Paytm Money, the trading platform owned by One97 Communications, reported a two-fold growth in scale and achieved profitability in FY23. Its operating revenue increased to Rs 131.3 crore, with income from brokerage and depository services being the primary source. The company posted a profit of Rs 42 crore, compared to a loss of Rs 10.72 crore in FY22. Despite competition from rivals like Groww and Zerodha, Paytm Money's focus on commission income and the expanding market has contributed to its success.

Blinkit’s losses expand as quick commerce firm faces intense competition from the likes of Zepto

Economic Times

Economic Times · 6m ago

Blinkit’s losses expand as quick commerce firm faces intense competition from the likes of Zepto

Blinkit, owned by Zomato, recorded a significant EBITDA loss of Rs 103 crore for October-December, up from Rs 8 crore in Q2, impacting Zomato's profitability. This increase is due to Blinkit's rapid expansion, achieving 1,007 dark stores by December 2022, ahead of schedule. The firm aims for 2,000 stores by December 2025, accelerating its target. Heightened competition from rivals like Zepto and Swiggy Instamart is temporarily affecting margin expansion, though customer loyalty remains strong.

Blinkit's losses widen to 1,078 crore in FY23, revenue surges threefold: Report

Economic Times

Economic Times · 1y ago

Blinkit's losses widen to 1,078 crore in FY23, revenue surges threefold: Report

Blinkit, the Zomato-owned quick delivery platform, reported an increase in losses to Rs 1,078.9 crore in FY23 from Rs 996.7 crore in FY22. Delivery and related charges accounted for a significant portion of the expenses. However, Blinkit also saw its revenue triple in FY23, reaching Rs 724.2 crore from Rs 236.1 crore in FY22. Marketplace commissions were a major source of income for Blinkit, contributing 55.9% to the total operating collection. The online food delivery platform, Zomato, is set to release its Q2 FY24 results soon.

Zomato to add fresh ESOPs worth $455 Mn

Entrackr

Entrackr · 1y ago

Zomato to add fresh ESOPs worth $455 Mn

Foodtech and quick commerce platform Zomato on Monday announced fresh employee stock option (ESOP) options for its employees under the new plan: ESOP 2024. The board at Zomato has agreed to adopt and implement Zomato’s Employee Stock Option Plan 2024 with fresh 18,26,27,402 stock options for the company, subsidiaries, and associate entities. The resolution is subject to the approval of the shareholders of the company. Every ESOP option will be converted into equity shares, said filings, and as per Fintrackr’s estimates, the newly added ESOP options are worth around Rs 3,780 crore (approximately $455 million). The above calculation is based on Zomato’s peak share price of Rs 207 (as of 3PM, May 13 2024). The objective of expanding the ESOP pool is “to promote the employee ownership and as well as to attract, retain, motivate and incentivize critical talents in the line with corporate growth,” The Gurugram-based company showed robust growth which could be evident from its growth in FY24. Zomato’s revenue from operations surged 71% year-on-year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. Moreover, the profits of the company stood at Rs 351 crore in FY24 as compared to a loss of Rs 971 crore in FY23. Meanwhile, its direct competitor, Swiggy booked Rs 5,476 crore in revenue from operations and Rs 1,600 crore loss during the first three quarters of the financial year FY24. Its revenue and losses stood at Rs 8,265 crore and Rs 4,179 crore, respectively, in FY23.

Ustraa reports Rs 100 Cr revenue and Rs 40 Cr loss in FY23

Entrackr

Entrackr · 1y ago

Ustraa reports Rs 100 Cr revenue and Rs 40 Cr loss in FY23

Men's grooming startup Ustraa, owned by Happily Unmarried, reported a revenue growth of 47% to Rs 97 crore in FY23, with 67% of sales coming from online channels. However, the company's expenses grew by 45.3% to Rs 138 crore, leading to a 43% increase in losses to Rs 40 crore. Ustraa's closest competitors, Beardo and The Man Company, posted higher revenues, while Beardo incurred a loss of Rs 6.13 crore in FY23.

Swiggy’s FY23 revenue grows 45% to Rs 8,265 crore; net loss stands at Rs. 4179 crore.

Economic Times

Economic Times · 1y ago

Swiggy’s FY23 revenue grows 45% to Rs 8,265 crore; net loss stands at Rs. 4179 crore.

Food and grocery-delivery firm Swiggy reported a 45% jump in operating revenue for fiscal year ended March 2023 to Rs 8,265 crore. However, its net loss expanded 15% to Rs 4,179 crore. Swiggy's expenses in FY23 totaled Rs 12,884 crore, up 34% from the previous year. Marketing expenses accounted for 28% of operating revenue, compared to 44% in FY22. Swiggy is implementing cost-cutting measures and aims to achieve profitability ahead of its planned IPO.

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

Entrackr

Entrackr · 1y ago

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

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.

Pristyn Care’s revenue grows 45% to Rs 453 Cr in FY23

Entrackr

Entrackr · 1y ago

Pristyn Care’s revenue grows 45% to Rs 453 Cr in FY23

Surgery-focused hospital chain Pristyn Care witnessed a 44.7% growth in operating scale, crossing the Rs 450 crore mark in FY23. The company's revenue streams saw an increase in operating income from Rs 313 crore in FY22 to Rs 453 crore in FY23. Healthcare services accounted for 75% of Pristyn Care's operating revenue, with the rest coming from the sale of medical health products and advertising services. Despite controlled costs, the firm experienced a 38.27% growth in losses, reaching Rs 383 crore in FY23.

Beardo crosses Rs 100 Cr revenue in FY23, slips into losses

Entrackr

Entrackr · 1y ago

Beardo crosses Rs 100 Cr revenue in FY23, slips into losses

Beardo, owned by Marico, saw a 12.2% increase in revenue to Rs 106.6 crore in FY23, despite a deceleration from its notable 50% growth in FY22. However, the company slipped into losses during FY23 after making its first-ever profit in FY22. High advertising costs and legal fees impacted its finances, leading to a loss of Rs 6.13 crore in FY23, compared to a profit of Rs 75 lakhs in FY22. The challenge for Beardo remains building a flagship brand to lead its portfolio in the competitive D2C sector.

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