Blinkit’s Revenue Grows 23% QoQ To Rs 1,156 Cr In Q2 FY25

Zomato’s quick commerce division, Blinkit, reported a revenue of Rs 1,156 crore in Q2 FY25, more than doubling from Rs 505 crore in the same period last year. On a QoQ basis, Blinkit’s revenue grew by 23% from Rs 942 crore in the preceding quarter.

The quick commerce business managed to significantly reduce its adjusted EBITDA loss to Rs 8 crore in the quarter under review, down from a loss of Rs 125 crore in the corresponding quarter last year. However, the adjusted EBITDA loss widened sequentially from Rs 3 crore in Q1 FY25. Zomato had previously stated in its Q4 FY24 financial report that Blinkit achieved EBITDA profitability in March 2024.

In the Q2 FY25 shareholder letter for performance update, Zomato co-founder and CEO Deepinder Goyal mentioned that the company’s quick commerce business continues to operate close to adjusted EBITDA break-even.

Albinder Dhindsa-led Blinkit’s gross order value (GOV) surged by 122% to Rs 6,132 crore during the quarter, up from Rs 2,760 crore in the same period last year. On a QoQ basis, Blinkit’s GOV grew by a strong 25% from Rs 4,923 crore in Q1 FY25.

Zomato-owned Blinkit operated 791 dark stores across the country, up from 639 in the previous quarter. Blinkit’s average daily GOV per store grew to Rs 12.7 Lakh, more than doubling from Rs 5.9 Lakh in Q2 FY24. Sequentially, the average daily GOV per store increased by 21% from Rs 10.5 Lakh in the June quarter.

Meanwhile, Zomato’s consolidated net profit declined by 30% QoQ to Rs 176 crore in Q2 FY25, while its operating revenue rose by over 14% to Rs 4,799 crore from Rs 4,206 crore in the previous quarter.

Additionally, Zomato has secured approval from its board to raise Rs 8,500 crore (approximately $1 billion) through a qualified institutional placement (QIP) to enhance its cash balance with the first fundraise post-listing, as stated by Goyal.