Quick commerce investments slash Zomato's profit by over half in Q3; shares dive

Quick commerce investments slash Zomato's profit by over half in Q3; shares dive

FILE PHOTO: A delivery worker of Zomato outside an eatery in Kolkata, India, July 13, 2021. REUTERS/Rupak De Chowdhuri/File Photo

Indian restaurant aggregator and food delivery giant Zomato’s consolidated profit more than halved year-on-year in the December quarter of the ongoing financial year, mostly due to heavy investments in its quick commerce division Blinkit.

Edited by: Pramod Mathew

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