Headline Results

• Acquisition of Blinkit (quick commerce) closed on August 10, 2022. Hence, this quarter includes ~50 days of Blinkit financials consolidated into our overall financials.
  
  
• Total Adjusted Revenue grew 48% year-on-year to INR 21.07 billion (38% year-on-year ex-quick commerce). This translates to annualized revenue of US$ 1.05 billion (at the average exchange rate for the quarter of 1 US$ = INR 80). This is the first quarter where we have crossed the billion dollar annualized revenue mark.
  
  
• Total Adjusted EBITDA loss reduced to INR 1.92 billion as compared to INR 3.10 billion in Q2FY22. Adjusted EBITDA loss (ex-quick commerce) was INR 0.60 billion for the quarter (compared to INR 1.50 billion in the previous quarter i.e. Q1FY23).
  
  
• Blinkit’s Gross Order Value (“GOV”) grew 26% quarter-on-quarter to INR 14.82 billion while the revenue grew 44% quarter-on-quarter. Adjusted EBITDA loss in quick commerce reduced to INR 2.59 billion from INR 3.26 billion in the previous quarter (Q1FY23) leading to Adjusted EBITDA (as a % of GOV) of -17.5% in Q2FY23 as compared to -27.8% in Q1FY23.
  

Click here to download Q2FY23 results