Food delivery company Zomato on Thursday reported a consolidated net profit of ₹138 crore in the third quarter ended December, aided by steady performance of the company’s core business and accelerated growth of quick commerce business. The company had posted a consolidated net loss of ₹347 crore in the corresponding quarter of the previous fiscal.

Consolidated revenue from operations stood at ₹3,288 crore up 69 per cent year-on-year (y-o-y).

The company said that food delivery GOV (Gross Order Value) grew 27 per cent y-o-y, quick commerce GOV grew 103 per cent y-o-y and going-out GOV grew 154 per cent y-o-y.

In a letter to shareholders, Zomato Founder and CEO Deepinder Goyal said, “At this point, we expect food delievery GOV to continue growing at 20 per cent+ y-o-y, and perhaps accelerate further if we see more than expected market share gains and revival in macro consumer demand.”

On Blinkit’s performance, he said that GOV growth was at 103 per cent y-o-y and “continues unabated” while losses continue to decline.

In the third quarter of FY24, Zomato said its food delivery business had an adjusted revenue of ₹2,025 crore up 29 per cent y-o-y. For the quick commerce, adjusted revenue more than doubled to ₹644 crore.

Goyal said Hyperpure witnessed growth in both the core restaurant supplies business and the relatively newer quick commerce opportunity. “To address a growing need of our restaurant partners, we are now setting up a plant for processing value-added food supplies, including sauces, spreads, pre-cut and semi-finished perishable products, among others. Over time, this has the potential to expand margins and drive higher engagement with our restaurant partners,” he added.