India's Zomato misses Q2 profit estimates
India's Zomato misses Q2 profit estimates as expansion costs squeeze margins
India's Zomato reported a smaller-than-expected rise in profit for the second quarter on Tuesday as margins took a hit from investments on growing "dark stores" used to fulfill online orders on its Blinkit quick commerce platform.
Zomato Q2: Blinkit is under margin pressure due to store expansion
Zomato does not expect any significant improvement in the operating profit margins in the near term given the rollout of stores and warehouse infrastructure.
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Business News LIVE Updates Today October 22, 2024: Zomato misses Q2 profit estimates, hurt by store expansion costs
Zomato reported a nearly five-fold profit increase to 1.76 billion rupees but missed forecasts. The firm is raising 85 billion rupees via shares a
India's Zomato misses Q2 profit estimates, hurt by store expansion costs
Indian food and grocery delivery firm Zomato reported a smaller-than-expected rise in second-quarter profit on Tuesday as the company added more new stores, which weighed on margins. Its consolidated net profit rose to 1.
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