Zomato announced a net profit of Rs 175 crore for Q4, a turnaround from the Rs 188 crore loss in the previous year. Revenue surged 73% to Rs 3,562 crore. Its quick commerce arm, Blinkit, turned adjusted EBITDA positive in March 2024. Founder Deepinder Goyal expressed gratitude for the success of Blinkit. Zomato proposed a 2% ESOP pool increase and allotted shares worth Rs 18.26 crore to employees. Zomato Payment Private Limited will surrender its RBI authorization for online payment aggregation, citing limited competitive advantage. The company aims to expand its quick commerce business with 1,000 stores targeted by March 2025.
Zomato Reports Profit, Plans Store Expansion
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