Blinkit - Zomato Acquisition Ticks Rs 288.5 Cr Loss In Q3

Quick commerce platform Blinkit reported Q3 FY23 losses at Rs 288.5 crore, according to Zomato’s quarterly results.

The company recently integrated with Zomato in August last year and its loss with the food delivery operator came at Rs 483.4 crore over a time period from 10 August to 31 December.

The company, however, managed to narrow its adjusted EBITDA to Rs 227 crore from Rs 259 crore on a sequential basis, correspondingly its revenue surged to nearly 30 per cent, a Rs 300 crore rise.

Further, a 21 per cent volume increase was highlighted with the gross order value (GOV) at Rs 1,749 crore, an 18 per cent increase sequentially from Rs 1,482 crore.

The instant delivery platform recorded 31 lakh transacting customers in Q3, up from 26 lakh in the preceding quarter, and a 3.16 crore orders during the quarter in comparison to last year’s 2.61 crore. The company’s gross order value per dark store rose from Rs 4.22 lakh to Rs 5.24 lakh in Q3.

Commenting on the quarterly revenue, Albinder Dhindsa, founder of Blinkit, said such macro slowdowns are not likely to have a large-scale impact on the company’s growth metrics.

We expect positive ticks from the advertisement revenue, he added.

Meanwhile, Zomato Chief Financial Officer Akshant Goyal said they can expect to grow their dark store count approximately by 30 to 40 per cent over the next year.