Business News: Zomato Revenue Jumps 64% as Blinkit User Base Crosses 30 Million, Know Potential Factors

Business News: Zomato’s stock has effectively broken over the key resistance level of Rs 250, achieving a new two-week high of Rs 260 on Thursday. This breakout follows nearly six months of consolidation near the Rs 250 level, showing a strong bullish trend. Despite the company’s Q4 statistics indicating a 38% year-on-year fall in net profit to Rs 49 crore, revenue from operations increased by 64% to Rs 5,833 crore. The favourable market sentiment around the stock indicates investor optimism, which is likely fuelled by the company’s impressive topline growth and technical breakout.

Blinkit Matches Zomato Userbase

Experts predict a potential gain with the next target set at Rs 300, recommending a buy at current levels with a stop-loss of Rs 244. Furthermore, recent CLSA data show that Blinkit—Zomato’s quick commerce platform—has grown rapidly, with a monthly user base that has topped 30 million, virtually equalling Zomato's main platform’s 30.7 million. This demonstrates Blinkit’s robust expansion and competitiveness, which supports the entire growth trajectory of Zomato’s business portfolio.