Zomato has shown significant growth in recent years, driven by its core food delivery business, quick commerce arm Blinkit, and other segments like Hyperpure and Going-out. Here’s a concise overview based on recent data:
**Revenue Growth** :
- In Q1 FY26 (April-June 2025), Zomato’s parent company, Eternal Ltd., reported a 67% year-on-year (YoY) revenue increase to ₹7,563 crore, with a 22% quarter-on-quarter (QoQ) growth.
- For FY25, Zomato’s revenue grew 67% YoY to ₹20,243 crore, outpacing competitor Swiggy’s 35% growth to ₹15,227 crore.
- In Q1 FY25, revenue from operations rose 74% YoY to ₹4,206 crore, driven primarily by Blinkit’s quick commerce segment.
**Quick Commerce (Blinkit)** :
- Blinkit’s sales grew 126% YoY to ₹5,206 crore in FY25, with a 92% reduction in EBITDA losses, indicating a path toward profitability.[](https://www.indmoney.com/blog/stocks/swiggy-vs-zomato-fy25)
- In Q1 FY26, Blinkit’s Net Order Value (NOV) surpassed food delivery for the first time, contributing significantly to the 55% YoY NOV growth across Zomato’s B2C businesses (₹20,183 crore).
- Blinkit’s Gross Order Value (GOV) in Q1 FY25 grew 22% QoQ to ₹4,923 crore, with average GOV per store rising from ₹6 lakh/day (383 stores) to ₹10 lakh/day (639 stores).[](https://www.business-standard.com/companies/results/zomato-q1-fy25-results-profit-rises-to-rs-253-crore-revenue-up-74-124080100962_1.html)
**Food Delivery** :
- Zomato’s food delivery business holds a 55-58% market share and is projected to grow at 30% annually for the next five years.[](https://inc42.com/buzz/zomatos-food-delivery-business-will-grow-30-annually-over-next-5-years-ceo/)[](https://www.indmoney.com/blog/stocks/swiggy-vs-zomato-fy25)
- In Q2 FY25, food delivery GOV increased 5% QoQ to ₹9,690 crore, with operating revenue up 68.5% YoY to ₹2,848 crore.
**Profitability** :
- Zomato reported a profit of ₹527 crore in FY25, a 50% YoY increase, while Swiggy reported a ₹3,117 crore loss.
- Consolidated adjusted EBITDA in Q1 FY25 rose to ₹299 crore, up ₹287 crore YoY, driven by margin expansion across all businesses.
- However, Q3 FY25 saw a 14% QoQ decline in adjusted EBITDA (₹45 crore) due to rapid Blinkit store expansion, which increased depreciation costs.
**Operational Highlights** :
- Zomato operates in over 800 Indian cities and has expanded its restaurant network to 247,000 active partners as of March 2025, an 18% YoY increase.
- Hyperpure, Zomato’s B2B supplies vertical, saw a 27% QoQ revenue increase to ₹1,216 crore in Q1 FY25.
- Challenges include high delivery driver attrition and margin pressure from quick commerce expansion.
**Market Performance** :
- Zomato’s stock surged 10% post-Q1 FY26 results, reflecting investor confidence despite a 90% YoY net profit drop due to Blinkit’s expansion costs.
- Analyst price targets range from ₹255 (Jefferies, “Hold”) to ₹355 (Morgan Stanley, “Overweight”), with Nomura at ₹290, citing Zomato’s quick commerce leadership.
**Market Context** :
- India’s online food delivery market is expected to grow at an 18% CAGR, contributing 20% to the food services market by 2030. Quick commerce is projected to grow 40-45% in Gross Merchandise Value over the next three years.
- Zomato’s market cap was ₹2,57,278 crore as of July 21, 2025, with a share price of ₹276.50.[](https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms)
Zomato’s growth is fueled by its dominant food delivery platform, Blinkit’s rapid expansion, and operational efficiencies, though it faces challenges from competition and high expansion costs.
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