Zomato posted a consolidated net profit of ₹176 crore in the second quarter of FY25, soaring five times over ₹36 crore in the corresponding quarter in the previous fiscal. Consolidated revenue from operations rose by 69 per cent to ₹4,799 crore. The company’s board also received approval to raise up to ₹8,500 crore through qualified institutional placement of equity shares, it said in a regulatory filing.

The management said bottomline (adjusted EBIDTA) continues to improve driven by steady increase in food delivery margins, and quick commerce business continuing to remain near break-even.

On its move to raise funds, Zomato Founder and CEO Deepinder Goyal said, “While the business is now generating cash (vis-a-vis a loss making business at the time of IPO), we believe that we need to enhance our cash balance given the competitive landscape and the much larger scale of our business today. We believe that capital by itself does not give anyone the right to win (and that service quality is the key determinant of success), but we want to ensure that we are on a level playing field with our competitors, who continue to raise additional capital.”

“There is also no plan for any minority investments or acquisition. The fundraise is meant to strengthen our balance sheet at this point,” he added.

Gross order value

Zomato said that gross order value across its B2C businesses improved to 55 per cent year-on-year at ₹17,670 crore. While food delivery GOV was up 21 per cent, quick commerce business reported 122 per cent year-on-year growth in GOV. Under Blinkit, 152 net new stores and seven warehouses were added in Q2FY25.

It also said its District app, a new platform that will consolidate going-out services will be live in four weeks. “Our cash balance reduced by ₹1,726 crore as compared to the previous quarter on account of the deal consideration (of ₹2,014 crore) for the acquisition of Paytm’s entertainment ticketing business,” it added.

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