Adjusted Revenue grew 66% year-on-year to INR 23.63 billion (45% year-on-year growth ex-quick commerce, 30% year-on-year growth for food delivery). Acquisition of Blinkit (quick commerce) closed on August 10, 2022. Hence, this quarter was the first full quarter of consolidation of Blinkit financials.
Adjusted EBITDA loss (ex-quick commerce) was INR 0.38 billion for the quarter compared to INR 2.72 billion in Q3FY22 a year ago. Even after consolidating quick commerce (a business that didn’t exist last year), Adjusted EBITDA loss reduced to INR 2.65 billion as compared to INR 2.72 billion in Q3FY22 a year ago.
Adjusted EBITDA margin (ex-quick commerce) improved to -2%in Q3FY23 as compared to -19% a year ago. Including quick commerce, Adjusted EBITDA margin improved to -11% in Q3FY23 as compared to -19% a year ago.