Zomato to launch Neighborhood app in 4 weeks: Deepinder Goyal

Online food delivery platform Zomato plans to launch its new app District in the next four weeks. The District app will help customers book restaurants, movie tickets and live events, among other things, Zomato said.

During the Q2 FY25 earnings call, founder Deepinder Goyal said, “The new app is expected to launch in the next four weeks.”

Goyal said the company is currently focused on shifting business from Zomato and Paytm platforms to the new District app.

In August this year, Zomato acquired fintech major Paytm’s event ticketing business Orbgen Technologies Pvt Ltd (OTPL) for Rs 1,264.6 crore and event ticketing business Wasteland Entertainment Pvt Ltd (WEPL) for Rs 783.8 crore rupees.

Zomato plans to make District its third brand following the success of its fast-commerce venture Blinkit.

Zomato achieved a 388 percent year-on-year increase in net profit to Rs 176 crore in Q2 FY25.

The company’s total revenue rose to Rs 5,020 crore on a consolidated basis in Q2 FY25 as compared to Rs 3,060 crore in the same period last fiscal.

Zomato’s consolidated operating income increased 68.5 percent to Rs 4,799 crore in the September quarter compared to Rs 2,848 crore in the same period in FY24.

Blinkit’s revenue grew to Rs 1,156 crore in the September 2024 quarter from Rs 505 crore in the 2023 quarter.

New stores reach Rs 7 lakh per day within the first full quarter of launch.

Zomato’s consolidated adjusted EBITDA increased by Rs 289 crore YoY to Rs 330 crore in Q2 FY25 driven by improved profitability across all our businesses.

Zomato’s consolidated advertising expenditure increased to Rs 412 crore in Q2 FY25 from Rs 355 crore in Q2 FY24. And separately, Zomato spent Rs 343 crore between July and September 2024.