Quarterly Earnings Released! Check EBITDA, Sales, Net Profit, And Other Important Financial Information. 2023’s Zomato Q3 Results
February 2023: Zomato Q3 2023 Results: Food delivery platform Zomato reported a further fall in its net profit in the third quarter of current fiscal year to Rs 347 crore, down from Rs 63 crore a year ago and Rs 251 crore a quarter before, amid a general slowdown in the food delivery market.
On a quarterly basis, the figures are not entirely comparable because Blinkit was consolidated for the entire third fiscal quarter in contrast to only a portion of the second fiscal quarter (around 50 days) (transaction closed on August 10, 2022). On August 10, 2022, the platform successfully completed the acquisition of Blinkit (rapid commerce).
As a result, this quarter marked the first full quarter of Blinkit’s financial consolidation. The adjusted revenue for Zomato increased by 66% year over year to Rs 23.63 billion (45 per cent year-on-year growth ex-quick commerce, 30 per cent year-on-year growth for food delivery).
In comparison to the same quarter previous year, the company’s operational revenue increased by 75% to Rs 1,948 crore for the quarter under review.
The adjusted EBITDA loss (excluding Quick Commerce) for the quarter was Rs 0.38 billion as opposed to Rs 2.72 billion in Q3FY22 last year.
The Adjusted EBITDA loss decreased to Rs 2.65 billion from Rs 2.72 billion in Q3FY22, even despite including Quick Commerce (a firm that didn’t exist last year).
Zomato’s adjusted EBITDA margin (excluding fast commerce) increased from -19% in Q3FY22 to -2% in Q3FY23.
Zomato said that its gross order value (GOV) growth for food delivery in Q3FY23, while being a seasonally good quarter, was only 0.7% QoQ.
The average order value (AOV) increased even though the quantity of orders decreased progressively. GOV rose by 21% year over year.
“We continue to maintain a laser-like focus on our long-term growth vectors while largely ignoring current growth concerns.
The crew is working tirelessly, and we are distributing items more quickly than before “Deepinder Goyal, the CEO, remarked.
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