After successfully launching its home-cooked meal service ‘Zomato Everyday’ in Gurugram, foodtech major Zomato is now planning to expand and scale the service in Bengaluru and Mumbai.
During the company’s Q4 FY24 earnings call, a spokesperson stated, “We aim to continue expanding ‘Everyday’. Currently, it’s primarily available in Gurugram, but in the coming months, we plan to launch ‘Everyday’ in Mumbai and Bengaluru. Following that, we will consider additional cities for further expansion.”
However, the company plans to expand this vertical slowly and gradually.
Zomato launched this service in early 2023 as a revamped version of its previous offering, Zomato Instant. Through ‘Zomato Everyday’, the company provides fresh home-cooked meals starting at INR 89.
The service has already been piloted in several localities in Bengaluru.
Zomato stated that after working on the offering for the past year and a half, the company has finally gained the confidence to scale it up.
It is noteworthy that Zomato’s biggest competitor, Swiggy, also recently relaunched its homestyle meal delivery service, Swiggy Daily, in Bengaluru, four years after discontinuing it.
Continue Exploring: IPO-bound Swiggy resumes homestyle meal delivery service ‘Swiggy Daily’, integrates into main app
During Q4 FY24, Zomato experienced a decline in the gross order value (GOV) of its core food delivery business, while its quick commerce vertical, Blinkit, showed strong performance.
Zomato’s food delivery gross order value (GOV) increased by 28% year-on-year (YoY) but declined by 0.6% quarter-on-quarter (QoQ) to INR 8,439 crore in the reported quarter.
Overall, the company marked its fourth consecutive profitable quarter, with a nearly 27% quarter-on-quarter (QoQ) increase in profit after tax (PAT) to INR 175 crore in Q4. Operating revenue showed moderate growth, rising 8% QoQ and over 73% year-on-year (YoY) to INR 3,562 crore for the quarter.
Continue Exploring: Zomato’s Q4 net profit surges 27% quarter-over-quarter to INR 175 Cr
