Eternal Q3 FY25 results (Oct–Dec 2024) and concall

Zomato's Q3 FY25 was defined by Blinkit's accelerated expansion past the 1,000-store milestone ahead of schedule, while food delivery growth moderated in sync with broader urban consumption slowdown. Management was transparent about expected near-term loss increases as ~30%+ of the network remains new, but emphasized that mature store cohorts remain profitable with 6.4% contribution margins. The quarter saw peak competitive intensity in quick commerce with elevated marketing spend, particularly backloaded in November-December.