2025-01-20 03:23:27 pm | Source: Reuters
India`s Zomato misses Q3 profit estimate as store ramp-ups bite
India's Zomato reported a smaller-than-expected third-quarter profit on Monday as its margins continue to face pressure from high spending on opening more centres to fulfil orders at its quick commerce platform, Blinkit.
Its consolidated net profit fell 57% to 590 million rupees ($6.8 million) in the quarter ended Dec. 31, and came in below analysts' estimates of 2.22 billion rupees, according to data compiled by LSEG.
($1 = 86.5600 Indian rupees)
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