By Ananta Agarwal and Ashna Teresa Britto (Reuters) -Indian food delivery major Zomato's third-quarter profit more than halved on Monday, as rising competition in the quick commerce space and increased spending on opening more fulfilment centres for its Blinkit platform weighed on margins.

The company's revenue from operations rose 64 per cent year-on-year (Y-o-Y) to Rs 5,405 crore in Q3, up from Rs 3,288 crore a year ago

Zomato attributed the dip in profit to higher investments aimed at quickening the pace of store openings and acquiring new customers, particularly in its quick commerce business. Adjusted EBITDA, however,

India's Zomato reported a 57% fall in third-quarter profit on Monday as its margins continued to face pressure from increased spending on opening more centres to fulfil orders at its Blinkit quick commerce platform.

However, revenue from operations witnessed a significant growth of 64%. The company's revenue jumped to ₹5,405 crore from ₹3,288 crore in Q3 FY24. Sequentially, this marks a 13% growth over the ₹4,799 crore reported in Q2 FY25.

A significant portions of Zomato's expenses came from purchases of stock-in-trade which grew to ₹1,510 crore from ₹783 crore earlier.

India's Zomato reported a smaller-than-expected third-quarter profit on Monday as its margins continue to face pressure from high spending on opening more centres to fulfil orders at its quick commerce platform,