Food delivery platform Zomato announced its fourth-quarter results on Monday, posting a 27% growth in its net profit from the preceding quarter.

What Happened: Zomato’s net profit for the quarter ended March 31 came in at ₹175 crore, up 27% from the ₹138 crore profit it earned in the previous quarter. The figure missed analyst expectations of ₹249 crore. The food aggregator posted a ₹188.2 crore loss in the same quarter last year.

The foodtech platform posted a revenue of ₹3,562 crore, a jump of 8.3% from ₹3,288 crore posted in the December quarter. The figure was slightly ahead of analyst estimates of ₹3,513 crore. The company had posted a revenue of ₹2,056 crore in the year-ago quarter.

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Quick commerce vertical BlinkIt clocked a revenue of nearly ₹770 crore and broke even at the EBIT level, which came in at ₹2 crore. gross order value grew 13.7% quarter-on-quarter to ₹4,027 crore.

Meanwhile, the food delivery business’ revenue was nearly flat at ₹1,739 crore. The vertical’s gross order value went down 0.6% to ₹8,439 crore from the previous quarter.

Price Action: Zomato’s share price was down 1.64% at ₹198 following the earnings announcement.

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