E-commerce

Zomato's next frontier: Blinkit's expansion signals quick commerce takeover

Pranav Balakrishnan

May 14, 2024 | 9 Min Read

Despite posting a record profit in its latest quarterly earnings, Zomato’s core food delivery business wasn’t the star of the show. Instead, quick commerce offering Blinkit stole the limelight, with Zomato planning to double down on the business over the coming year.

Yesterday, foodtech major Zomato published its earnings for the quarter ended March 2024, reporting a fourth consecutive quarter in the green. However, despite Zomato posting a consolidated profit of Rs 175 crore, a 28% increase over the previous quarter, its core business—food delivery—wasn’t the star of the show.

Instead, the limelight was stolen by the Gurugram-headquartered company’s quick commerce subsidiary, Blinkit. Even the main theme picture from the shareholder note of Zomato focused on Blinkit. Blinkit’s prominence in the Zomato story shouldn’t come as a surprise. In late April, a Goldman Sachs report stated that Blinkit’s contribution to Zomato’s market cap was larger than that of its food delivery business.

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