Blinkit Q1: Revenue Jumps 22% QoQ To INR 942 Cr, Adjusted EBITDA Loss At INR 3 Cr

Zomato’s quick commerce vertical Blinkit posted a revenue of INR 942 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25), up 145% from INR 384 Cr reported in the year-ago period.

On a quarter-on quarter (QoQ) basis, Blinkit’s revenue jumped 22.4% from INR 769 Cr reported in Q4 FY24. 

The quick commerce vertical’s adjusted EBITDA loss further improved to 3 Cr in Q1 FY25 from INR 133 Cr in Q1 FY24 and INR 37 Cr in Q4 FY24. 

It is pertinent to note that Zomato, in its Q4 FY24 earnings statement, said that Blinkit turned adjusted EBITDA positive in March 2024. In the shareholder letter released today, it said Blinkit has been able to sustain the adjusted break-even achieved in March despite investments in new store openings.

Blinkit’s gross order value (GOV) surged 130% to INR 4,923 Cr in Q1 FY25 from INR 2,140 Cr in the corresponding quarter last year. Sequentially, it rose 22.2% from INR 4,027 Cr in Q4 FY24.

Zomato-owned Blinkit currently operates 639 dark stores across the country and aims to scale this number up to 2,000 by the end of 2026 while remaining profitable, said Albinder Dhindsa, cofounder and CEO of Blinkit.

Blinkit’s average daily GOV throughout per store has risen to INR 10 Lakh from 639 stores as compared to INR 6 Lakh from 383 stores earlier, Dhindsa added.

The average selection available to Blinkit users has jumped 4-5X over the last eight quarters, with the quick commerce platform offering access to 25,000 stock-keeping units in the same locations.

Dhindsa further said that Blinkit has not been eating into the market share of kiranas, as the value-focused items in these categories are difficult to replicate, especially in categories like staples, where price sensitivity is higher.

Instead, he said that Blinkit’s GOV comes from incremental growth in consumption, share shift from next day delivery eommerce, and share shift from mid-premium range modern retail in large cities.

Overall, Zomato reported a net profit of INR 253 Cr on operating revenue of INR 4,206 Cr in Q1` FY25. 

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.