Adjusted EBITDA surged 128% to Rs 285 crore during the quarter as compared with Rs 125 crore in Q3 FY24. However on QoQ basis, adjusted EBITDA lower by 14% driven by investment in expedited new store openings and new customer acquisition in quick commerce business.

Gross order value (GOV) of B2C business jumped 57% YoY to Rs 20,206 crore in Q3 FY25. On a like-for like basis (excluding the impact of the acquisition of Paytm’s entertainment ticketing business) GOV growth was 52% YoY (12% QoQ).

“As we continue to bring forward store expansion, our networks may have to carry a greater load of under-utilized stores which will impact near-term profits in the next one or two quarters. These investments will however also likely result in GOV growth remaining meaningfully above 100%, at least for FY25 and FY26. Once we come out from this period of expansion, the business is likely to turn sharply from being loss making to becoming meaningfully profitable as a larger part of our business starts comprising mature stores compared to newly added ones,” the food delivery company stated in shareholders’ letter.

In food delivery business, adjusted revenue jumped 17% YoY to Rs 2,413 crore during the quarter while adjusted EBITDA surged 171% to Rs 423 crore in Q3 FY25 as against 252 crore in Q3 FY24.

GOV jumped 17% YoY to Rs 9,913 crore in Q3 FY25. Average monthly transacting customers increased 9.04% to 20.5 million in Q3 FY25 as against 18.8 million in Q3 FY24. The company expects more than 20% YoY GOV growth guidance for the food delivery business.

Adjusted revenue from quick commerce surged 117% to Rs 1,399 crore during the quarter from Rs 644 crore in Q3 FY24 while the Blinkit reported net loss of Rs 103 crore in Q3 FY25 as compared with net loss of Rs 89 crore.

In going-out business, like-for-like numbers (excluding the impact of the acquired business) in Q2FY25 and Q3FY25 for (a) adjusted revenue growth are 57% YoY and 55% YoY respectively, (b) change in adjusted EBITDA are Rs 286 crore YoY and Rs 163 crore YoY respectively and (c) GOV growth are 53% YoY and 52% YoY respectively.

“While the core business continues to be profitable, the quarterly loss in Q3FY25 was largely driven by the investment in the new District app (team, marketing, tech costs). Most of the investments from here on will be focused on getting customers to transition to the new app and grow selection on our platform. We are likely to operate in losses for the next year or so but we don’t expect them to be meaningful in the overall context of Zomato,” the company stated in shareholders’ letter.

Blinkit’s CEO, Albinder Dhinsa said that in the last two quarters, the company had added 368 net new stores (152 in Q2FY25 and 216 in Q3FY25) accounting for about 37% of its total store network of 1,007 stores.

Further, Zomato, CEO, Deepinder Goyal said that as of now, it seems like will get to target of 2,000 stores by Dec 2025, much earlier than its previous guidance of Dec 2026.

Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.