Online food delivery platform Zomato is set to launch its new application, District, in next four weeks. According to Zomato, the District app will help customers book restaurants, movie tickets, and live events, among others.
During the Q2 FY25 earnings, Founder Deepinder Goyal said, “The new app should be live in the next four weeks”.
Goyal said the company is currently focusing on migrating the business from Zomato and Paytm platforms to the new District application.
In August this year, Zomato acquired fintech major Paytm’s entertainment ticketing business Orbgen Technologies Pvt Ltd (OTPL) for Rs 1,264.6 crore and its events ticketing business Wasteland Entertainment Pvt Ltd (WEPL) for Rs 783.8 crore.
Zomato’s profit declines 30% QoQ to Rs 176 crore; Ad expenses surge to Rs 343 crore
Zomato plans to make District its third brand after the success of its quick commerce venture Blinkit.
Zomato has delivered a Rs 388 percent year-on-year rise in its net profit to Rs 176 crore in the second quarter of FY2025.
The total income of the company surged to Rs 5,020 crore on a consolidated basis in Q2 FY25 compared to Rs 3,060 crore in the same period last fiscal year.
Zomato’s consolidated revenue from operation increased by 68.5 percent to Rs 4,799 crore in the September quarter compared to Rs 2,848 crore in the same period in FY24.
Blinkit’s revenue soared to Rs 1,156 crore in the September quarter of 2024 from Rs 505 crore in the same quarter in 2023.
The new stores are reaching Rs 7 lakh of GOV per day in the first full quarter post-launch.
Zomato’s consolidated Adjusted EBITDA increased by Rs 289 crore YoY to Rs 330 crore in Q2FY25 driven by improvement in margins across all our businesses.
The consolidated ad expenses of Zomato increased to Rs 412 crore in Q2 FY25 from Rs 355 crore in Q2 FY2024. And, on standalone basis, Zomato spent Rs 343 crore between July and September 2024.