Zomato Q4 Results, May 1 -- Zomato, now known as Eternal, on Thursday, May 1, posted a sharp decline of 78% year-on-year (YoY) in its January-March quarter of the financial year 2024-25 (FY25) to Rs.39 crore, largely on account of the accelerated investments in its quick-commerce business Blinkit.

Moreover, the slowdown in the food delivery business also has a Blinkit connection. CEO Deepinder Goyal said that competition from quick delivery of packaged food from quick commerce is leading to a drop in demand for food delivery from restaurants.

Blinkit's adjusted EBITDA losses, meanwhile, increased to Rs.178 crore from Rs.103 crore in the previous quarter, which Eternal said "was expected and in line with our plan to pull-forward expansio...