While the company did not disclose absolute numbers for revenue it earned from advertisements, it said growth was faster than the year-on-year increase in its gross order value (GOV). Blinkit’s GOV for the quarter ended December 31 doubled to Rs 3,542 crore.
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“The quick-commerce advertising opportunity is turning out to be promising so far,” Blinkit chief executive Albinder Dhindsa said in Zomato’s shareholder letter for Q3 of FY24.
Dhindsa noted that quick-commerce is one of the most transacted categories online, and that the transacting frequency on Blinkit is among the highest in any consumer internet category in India. “Brands are therefore looking to build visibility with a highly engaged and fast-growing customer base with spending power,” he said.
He also pointed out that linking ad impressions to actual sales helped brands accurately measure their return on investments.
On January 8, ET had reported that revenues from advertising were increasingly becoming an important way for food-delivery and quick-commerce platforms like Swiggy, Zomato, Blinkit and Zepto to bump up their overall incomes.
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For food-delivery and quick-commerce firms alike, advertising revenue often offers the highest margins of between 90% and 95%, executives in the industry had said.Zomato reported an almost fourfold sequential rise in consolidated net profit for the December quarter to Rs 138 crore. This compares to a net loss of Rs 347 crore in the same period last year.
The company’s operating revenue surged 69% on year in the quarter to Rs 3,288 crore, led by growth across its three primary verticals of food-delivery, quick-commerce and business-to-business (B2B) grocery supply.