The quick commerce vertical’s adjusted EBITDA loss further improved to INR 37 Cr in the quarter ended March 2024, from INR 203 Cr in Q4 FY23
Its GoV soared 97% year-on-year (YoY) to INR 4,027 Cr in the quarter ended March 2024
The quick commerce platform currently has a presence in 26 cities with over 526 dark stores currently operational
Zomato’s quick commerce vertical Blinkit turned adjusted EBITDA positive in March 2024 as it continued to scale up the average order value and volume in the fourth quarter of FY24 (Q4 FY24).
Blinkit clocked revenue of INR 769 Cr in Q4 FY24 as against INR 363 Cr in the year-ago quarter and INR 644 Cr in Q3 FY24.
The quick commerce vertical’s adjusted EBITDA loss further improved from INR 203 Cr in Q4 FY23 and INR 89 Cr in Q3 FY24, to INR 37 Cr for the quarter ended March 2024.
Blinkit’s GOV or gross order value soared 97% year-on-year (YoY) to INR 4,027 Cr in the quarter ended March 2024.
The quick commerce platform currently has a presence in 26 cities with over 526 dark stores operational in the quarter. The focus from an expansion standpoint is the top eight cities in India.
“Of the new stores that we opened in Q4FY24, 80% are in these top eight cities. We are significantly underpenetrated in the top cities. Our second largest city (by GOV) Bengaluru is less than 30% of Delhi NCR’s GOV (our largest market), with a similar gap in store count,” Zomato said in its shareholders letter.
The company said it will add another 100 stores in Q1 FY25 and is aiming to get to 1,000 stores by the end of FY25.