Try GOLD - Free
Zomato backs Blinkit expansion amid losses
Mint New Delhi
|January 21, 2025
Zomato's Q3 profit drops 57%, weighed down by quick-commerce arm
Zomato Ltd will continue to floor the accelerator on its Blinkit expansion, burning cash to reach 2,000 dark stores a year ahead of target even as the quick-commerce business plunged its third-quarter profit.
The firm's profit after tax fell 57% year-on-year to ₹59 crore in the December quarter, weighed by Blinkit's ₹103 crore loss.
Zomato is also investing in its new events-focused platform District. The company is looking to double Blinkit's dark stores or warehouses to about 2,000 by the end of this year from about 1,007 now. Blinkit opened 152 dark stores in the September quarter and 216 in October-December, adding 1.3 million sq.ft of warehousing space (which accounts for more than 30% of its overall dark store network).
This story is from the January 21, 2025 edition of Mint New Delhi.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint New Delhi
Mint New Delhi
Spirituality, with a side of artisanal coffee
Wavering between the scriptures and self-help platitudes, Namita Devidayal's book leaves the reader wishing they'd chosen a different book
5 mins
October 04, 2025
Mint New Delhi
Zubeen Garg: Assam's first true rock star
The singer-songwriter has thousands of hits in different languages but it was his irreverence that gave him god-like status in a community starved of icons
7 mins
October 04, 2025
Mint New Delhi
L’Oréal board in India next week
The board of French cosmetics giant L’Oréal, the world’s largest beauty group, will visit India next week to explore opportunities in one of the fastest-growing beauty markets. The first such visit comes amid recent management changes at the Indian arm of the Maybelline lipstick maker.
1 min
October 04, 2025
Mint New Delhi
ALL YOU KNEAD
AS PEOPLE MAKE HEALTHIER CHOICES, DAILY BREAD IS NO LONGER JUST WHITE AND SLICED BUT ARTISANAL, SMALL-BATCH AND MADE-TO-ORDER. IN RESTAURANTS, TOO, IT HAS RISEN FROM FILLER TO MAIN ACT
1 min
October 04, 2025
Mint New Delhi
A conversation between fibre and photo
An ongoing show juxtaposes Monika Correa's tapestries and Seher Shah's prints and photogravures
4 mins
October 04, 2025
Mint New Delhi
RBI plans sweeping overhaul to ease foreign borrowing
The central bank has proposed a sweeping liberalization of the external commercial borrowing framework, removing cost caps, widening eligibility, and tying fundraising limits to financial strength to make it easier for Indian firms to access foreign funds.
1 mins
October 04, 2025
Mint New Delhi
Kuku FM looks to raise up to $80 mn
Audio streaming platform Kuku FM has signed a term sheet to raise about $70-80 million in new funding, with South Korean-based video game publisher Krafton leading the round alongside existing investors, three people familiar with the matters said.
1 min
October 04, 2025
Mint New Delhi
Delhi, TN, Maha lead e-bus sales surge in H1
Govt incentives, charging infrastructure also fuel e-bus demand in Odisha
2 mins
October 04, 2025
Mint New Delhi
A case for loafing about
Taylor Swift apparently spends 60% of her time talking about bread (\"it's a loaf story,\" to quote her)—as I learnt from a reel I came across while trying to avoid getting down to the real work of the day (or should I say loafing about)—and it made me wonder when we became so obsessed about what came out of a packet and was eaten when we were sick.
1 mins
October 04, 2025
Mint New Delhi
Draft gaming rules trigger pushback from stakeholders
India’s beleaguered online real-money gaming industry stakeholders have questioned what they call ambiguities in the draft rules of the law that ban any game involving financial winnings.
1 mins
October 04, 2025
Listen
Translate
Change font size