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,

Food-delivery platform Zomato on Monday reported a 57 per cent drop in consolidated net profit to Rs 59 crore for the third quarter of financial year 2024-25 (FY25).

Zomato Ltd's Q3 FY25 net profit fell more than 57 percent year-on-year to Rs 59 crore, even as the food delivery firm's revenue for the quarter expanded 64 percent from the previous year.

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.

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