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Blinkit's losses widen to ₹103 cr
Financial Express Kochi
|January 21, 2025
₹5,405 CR; BLINKIT BOOSTS EXPANSION TO OUTPACE RIVALS
BLINKIT, the quick commerce subsidiary of Zomato, reported a higher adjusted EBITDA loss of ₹103 crore for the October-December quarter, up from ₹89 crore during the same period last year. The adjusted EBITDA excludes ESOP costs. Sequentially, the loss expanded drastically from ₹8 crore in Q2FY25.
The losses reflect Blinkit's strategy of rapid expansion to outpace competition in the burgeoning quick commerce segment. "Heightened competition has led to a pause in margin expansion," said Albinder Dhindsa, CEO of Blinkit.
Despite mounting losses, Blinkit's revenue surged 117% year-on-year to ₹1,399 crore in Q3FY25, driven by a sharp increase in gross order value (GOV), which rose 120% to ₹7,798 crore compared to ₹3,542 crore in Q3FY24.
This story is from the January 21, 2025 edition of Financial Express Kochi.
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