Deepinder Goyal | May 13, 2024 | 1 min read
Q4FY24 shareholders’ letter and results
Milestone alert
- Quick commerce business (Blinkit) turns Adjusted EBITDA positive in March 2024 🏃➡️
Key takeaways
- Year-on-year topline growth accelerates to 61% and continues to trend above the stated outlook of 40%+. Growth driven by robust growth in both food delivery and quick commerce.
- Bottomline continues to expand and grow with Adjusted EBITDA at INR 194 crore. Margin expansion continues in both food delivery and quick commerce. Quick commerce business gets to Adjusted EBITDA break-even milestone for March 2024.
- Rapid store expansion underway in quick commerce business. Aiming for 1,000 stores by March 2025.
- Proposal for a new ESOP pool equivalent to 2% of fully diluted share capital.
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