Zomato Q3 Results: Profit dips significantly to Rs 59 crore on continued store expansion

Zomato’s third quarter earnings saw a significant drop of 57.25% in profit due to store expansion. Margins were affected by increased spending on opening more centers. Revenue from operations increased by 64.39%. CFO Akshant Goyal stated that near-term profits may be impacted by under-utilized stores, but investments will lead to significant profitability in the future.