Losses at Zomato narrowed for the quarter ended September 30, following a better performance of its core business comprising food delivery and Hyperpure — a channel to provide ingredients and supplies to restaurants.
The company posted a consolidated loss of Rs 250.8 crore against a loss of Rs 434.9 crore in the same quarter of the previous year.
The quarter also saw Zomato consolidate 50 days of Blinkit’s financials into its numbers. The food delivery platform completed the acquisition of the quick commerce firm on August 10.
During the second quarter, Zomato’s total adjusted revenue (revenue from operations plus customer delivery charges) grew 48 per cent over the previous year’s Rs 2,107 crore.
Excluding quick commerce, the rise stood at 38 per cent. Zomato said its overall topline translates into an annualised revenue of $1.05 billion and that this is the first quarter where it has crossed the billion-dollar annualised revenue mark.
According to the company, Blinkit’s gross order value grew 26 per cent on a sequential basis to Rs 1,482 crore, while revenue rose 44 per cent over this same period. Zomato also managed to bring down the adjusted EBITDA loss in quick commerce to Rs 259 crore from Rs 326 crore in the previous quarter.
Bata profit up 47%
Footwear major Bata on Thursday reported a consolidated net profit of Rs 54.82 crore for the second quarter ended September 30. Consolidated net profit was up 47.44 per cent from Rs 37.18 crore in the corresponding period a year ago.
Total income was Rs 841.61 crore against Rs 625.65 crore in the year-ago period.
“Despite tough operating environment and significant material inflation, the company managed to drive broad volume-driven revenue growth,” Bata said in its earnings statement.
“The festivity and positive customer sentiments reflected in increased footfalls,” said Gunjan Shah, MD and CEO, Bata India.
Berger net flat
Berger Paints reported a consolidated net profit of Rs 219.51 crore for the quarter ended September 30, almost flat compared with Rs 219.21 crore in the corresponding previous period.
Total income during Q2FY23 was Rs 2,683.50 crore, up from Rs 2,238 crore in Q2FY22.