Zomato Revenue Model: How Zomato Makes Money in 2026

Zomato’s parent company, Eternal, posted operating revenues of ~₹20,243 crore in FY25, with net profit of ₹527 crore—marking a 67 % YoY revenue jump and ~50 % rise in profits. These numbers reflect the success of its multi-vertical approach, combining food delivery, quick commerce, B2B supply, and lifestyle services.

For platform entrepreneurs, dissecting Zomato’s revenue architecture is critical: it shows how to layer monetization across users, service providers, and adjacent verticals. Miracuves.com can draw from this as a blueprint for building clone apps with scalable, diversified revenue paths.

Zomato Revenue Overview – The Big Picture

Valuation & Revenue (Latest Data)
In FY25, Eternal (formerly Zomato) achieved operating revenue of ~₹20,243 crore (versus ~₹12,114 cr in FY24) — a 67 % increase. Its profit after tax (PAT) reached ~₹527 crore.
In Q4 FY25, operating revenue rose 64 % YoY to ~₹5,833 crore, though net profit for that quarter dipped sharply to ~₹39 crore, reflecting heavy investment and cost pressures.

Year-over-Year Growth
From FY24 to FY25, revenue growth was ~67 %. Adjusted EBITDA also surged (from ~₹372 cr to ~₹1,079 cr).
Quarterally, Q4 FY25 revenue expanded ~60–64 % YoY, though profitability was compressed due to cost escalation and aggressive expansion in newer verticals.

Revenue Breakdown by Vertical
Eternal now reports revenue contribution by business verticals:

• Food delivery remains core, contributing ~35 % of Q4 revenue.
• Hyperpure (B2B supply to restaurants and dark stores) and Blinkit (quick commerce) have grown rapidly: in Q4 FY25, Hyperpure’s revenue rose ~93 % YoY; Blinkit’s grew ~122 % YoY.
• The “Going-Out” vertical (restaurant discovery, ticketing) also adds a smaller share.

In FY25 full year, vertical splits looked like:

• Food delivery: adjusted revenue ~₹9,418 cr
• Quick commerce (Blinkit): ~₹5,206 cr
• Hyperpure: ~₹6,196 cr
• Going-Out / District: ~₹737 cr

Thus, the business is moving from a pure food delivery platform into a full-stack commerce + supply ecosystem.

Profit Margins & Unit Economics
Eternal’s overall PAT margin is modest (~2-3 %).
In terms of profitability by vertical: the food delivery segment enjoys the strongest unit economics and margin contribution; Blinkit is loss-making (though loss is narrowing), and Hyperpure likewise runs thin or negative margins currently (though improving).
Delivery & related costs, marketing & promotions, tech & server infrastructure, and operations cost are the major cost centers.

Market Position vs Competitors
In food delivery, Zomato holds ~55–58 % market share vs ~42–45 % for Swiggy.
Blinkit competes with Instamart, Zepto, etc., and is aggressively expanding dark stores.
Because Zomato integrates restaurants, grocery, supply chain, and lifestyle, it leverages cross-vertical synergies that many pure competitors cannot.

Read More: What is Zomato App and How Does It Work?

Primary Revenue Streams Deep Dive

Below, we break down the main monetization streams Zomato (Eternal) uses, how they work, and their relative weight and trends.

Revenue Stream #1: Commission / Platform Fees on Food Orders

How it works exactly
When a customer places a food order, Zomato takes a commission (take rate) from the restaurant on the food item’s value (excluding certain discounts). This is the classic marketplace model: Zomato connects users and restaurants and charges a slice for that facilitation.

Percentage of total revenue
Historically, this is the foundational revenue stream. In Q3 FY25, for example, ~38.3 % of operating revenue came from food ordering and delivery.

Pricing structure / rates
Zomato’s take rates generally range ~20–25 %. In some reports, commission has been noted around ~22–25 %.
Restaurants may also pay extra for higher visibility, placement, promotional slots, and priority delivery.

Growth trends
As order volume and average order value rise, this stream scales strongly. In FY25, orders grew to ~853 million and average order value rose to ~₹453.
Because this is a mature vertical, growth is slower than in newer verticals but underpins stability.

Real examples with numbers
If a restaurant sells food worth ₹1,000, and the take rate is 22 %, Zomato would get ~₹220. Suppose 853 million orders averaging ₹453, the gross order value is ~₹38,670 cr; removing discounts etc., a portion becomes take rate revenue.

Revenue Stream #2: Quick Commerce (Blinkit) – Delivery / Mark-ups / Platform fees

How it works exactly
Blinkit (Zomato’s quick commerce arm) sells grocery / essential items through dark stores, delivering within minutes. Revenues come from product markups (selling at above wholesale), delivery fees, and emerging ad / brand partnerships for premium placement in the app.

Percentage of total revenue
In FY25, Blinkit revenue was ~₹5,206 cr, a significant share (~25-30 % of total adjusted revenues).

Pricing structure / rates
Margins on product markups are thin. Delivery fees may vary by distance or promise time. Blinkit also experiments with platform fees.
Additionally, brands pay for in-app ad slots or priority placement of their FMCG items.

Growth trends
Blinkit reported a ~126 % YoY revenue increase in FY25. Orders doubled, and the average order value for Blinkit rose from ~₹613 to ~₹667.
Losses are still present but narrowing; adjusted EBITDA loss reduced from ~₹384 cr in FY24 to ~₹292 cr in FY25.

Real examples with numbers
If Blinkit sells ₹1,000 of goods, markup might be modest (₹50–₹100). Delivery fee might add ₹30–₹50. If brand pays for placement, extra few rupees per unit.

Revenue Stream #3: B2B Supply (Hyperpure)

How it works exactly
Hyperpure supplies fresh produce, staples, and kitchen essentials to restaurants as well as to Blinkit dark stores. It is a supply chain / wholesale operation integrated with the platform ecosystem.

Percentage of total revenue
In FY25, Hyperpure’s adjusted revenue was ~₹6,196 cr, making it perhaps the largest single vertical by contribution.

Pricing structure / rates
Revenue arises from margins on supply, markups over wholesale costs, and logistics fees. Because Hyperpure is deeper in the value chain, profit margins are thinner. Also it may extend credit to restaurants, which adds risk and financial costs.

Growth trends
Hyperpure posted ~95 % YoY revenue growth in FY25. The adjusted EBITDA loss narrowed (loss ~₹84 cr in FY25 vs ~₹126 cr in FY24).

Real examples with numbers
If a restaurant buys raw materials worth ₹10,000, Hyperpure might supply at slight markup (say 5–15 %), plus delivery charge. Scale and volume matter greatly to margin control.

Revenue Stream #4: Subscription / Loyalty / Premium Features

How it works exactly
Zomato offers subscription programs (e.g. Zomato Gold / Plus) that provide free deliveries, cashback, priority access. Users pay a recurring fee, which gives them benefits that increase order frequency.

Percentage of total revenue
Subscription income is estimated to contribute ~10 % of total revenue currently, with potential to rise to 15–20 %.

Pricing structure / rates
Typical subscription pricing depends on region, duration (monthly, annual), benefits. For example, a user may pay ₹399–₹1,200 per year for subscription, depending on city and benefit package.

Growth trends
As user base matures, subscription monetization becomes more stable and predictable. Zomato aims to deepen subscription penetration among frequent users.

Real examples with numbers
If 5 million users pay ₹1,000/year, that yields ₹50 cr annually. Even at smaller penetration, stable recurring cash helps offset volatility in transactional revenue.

Revenue Stream #5: Advertising and Promotions

How it works exactly
Restaurants and brands pay for promoted listings, priority visibility, banner ads, targeted offers within the app. This is effectively monetizing the attention of engaged users.

Percentage of total revenue
While exact public split is rarely detailed, advertising is a meaningful ancillary revenue stream in many quarters, and contributes to “other operating income” lines. In the food delivery vertical, for example, ad uplift is estimated ~5–6 % extra on top of commission.

Pricing structure / rates
Rates depend on city, user traffic, ad placement priority. Brands bid for placements, pay per click or per impression, or via fixed packages.

Growth trends
As the platform scales and user engagement deepens, ad revenue is a high-margin lift. Platforms often push ad slots aggressively to improve margins since incremental cost is low.

Real examples with numbers
If a restaurant pays ₹5 per click or ₹500 per week banner, multiplied by thousands of restaurants, ad revenue aggregates significantly.

Read More: Best Zomato Clone Script 2025 – Launch Your Food Delivery App Fast

Revenue streams percentage breakdown (approximate, FY25)

Revenue Stream	Estimated Share of Total Revenue
Food delivery commissions / fees	~25–35 % (core, stable base)
Quick commerce (Blinkit)	~20–30 %
B2B supply (Hyperpure)	~25–35 %
Subscription / loyalty	~8–12 %
Advertising & promotions	~5–10 %

The Fee Structure Explained

Understanding how Zomato charges different sides is critical to designing a clone app.

User-side fees

• Delivery fees: charged per order based on distance, time window, and service level
• Surge / dynamic fees: extra during peak times
• Subscription fees: recurring fees for premium benefits
• Convenience / platform fees: small flat fee on orders to defray platform operational costs

Restaurant / provider-side fees

• Commission / take rate: typically ~20–25 % on order value
• Promotional / advertising fees: for prioritization or better visibility
• Listing / onboarding fees: sometimes fixed charge or deposit for new restaurants
• Delivery partner costs: sometimes shared (if restaurant offers self-delivery, lower commission)
• Cancellation / penalty fees: if restaurant cancels or rejects orders

Hidden / indirect revenue tactics

• Cross subsidization: using high-margin verticals (ads, supply) to subsidize low-margin ones
• Float / financial income: holding funds for short periods, interest income
• Data monetization: selling insights or analytics to brands or restaurants
• Promotion co-funding: asking brands or banks to subsidize discounts

Regional pricing variations

Fees and commissions vary by city tier (Tier 1 vs Tier 3), competition intensity, and average order values. In lower-tier cities, take rates or delivery fees might be lower to maintain affordability.

Detailed Fee Structure Breakdown by User Type

Side / Role	Fee Type	Description / Rate
User	Delivery fee	Variable by distance, load, surge
User	Surge / dynamic fee	Extra during peak hours
User	Subscription / convenience fee	Recurring or flat fees
Restaurant / provider	Commission (take rate)	~20–25 % of order value
Restaurant / provider	Ad / promotional fees	For priority listings, banner slots
Restaurant / provider	Listing / onboarding fee	One time or periodic
Restaurant / provider	Penalty / cancellation fees	Charges if order canceled or rejected
Platform / app	Hidden monetization (data, float)	Ancillary margins, interest, analytics

How Zomato Maximizes Revenue Per User

To grow revenue per user (ARPU), Zomato uses multiple strategies.

User segmentation strategy

Divide users into occasional, regular, heavy users and tailor offers / features accordingly. Heavy users are targeted for subscription upsell, brand partnerships, premium benefits.

Upselling techniques

Offer free delivery thresholds, “order more to save”, bundled offers (e.g. “add dessert for ₹X”). Push premium subscription for loyal users.

Cross-selling methods

If a user orders food often, cross-sell grocery items (Blinkit) or restaurant supplies offers. Show in-app ads or curated deals. Also, suggest “pre-order entertainment / ticketing” or bundled dining + events.

Dynamic pricing algorithms

Use demand forecasting, time-of-day pricing, surge / peak adjustments to tweak delivery fees. Offer discounts strategically to manage supply/demand balance.

Retention monetization

Use loyalty programs, gamification, rewards, subscription benefits to lock in users. Frequent discounts or priority slots for repeat users.

Lifetime value optimization

Focus on reducing churn, increasing order frequency, raising average order value, and pushing higher-margin verticals to existing users (i.e. from food to grocery or premium services).

Psychological pricing tricks

Use charm pricing (₹199 instead of ₹200), decoy offers (show a high plan to push medium plan), anchoring (show higher price crossed out), bundling, loss-leader offers.

Real examples with data

• A subscribed user might place 40 orders/year vs 8 orders for occasional user — subscription fee + incremental orders boosts their LTV significantly.
• Showing ad / promoted restaurant listings to a frequent user may yield 5–10 % extra revenue uplift per order.
• Cross-selling grocery items to a food user yields incremental margin even if they don’t buy every time.

Cost Structure & Profit Margins

To understand sustainability, we must examine costs and margins.

Major cost categories

• Delivery & logistics costs (driver payouts, fuel, routing) — often the largest
• Marketing & customer acquisition cost (CAC) — subsidizing new users and discounts
• Technology infrastructure & servers — cloud, dev ops, data processing
• Operations & customer support
• R&D / innovation / product development
• Warehousing, dark stores (for Blinkit), inventory handling
• Depreciation, amortization, interest, administration

In FY25, Eternal’s “other expenses” (including dark store, rentals, utility, legal, etc.) soared, and delivery / related charges grew ~46 % YoY. Marketing expense also jumped ~38 %.

Unit economics breakdown

Imagine a food order: revenue = commission + delivery fee + ad uplift. Cost = delivery cost + platform cost + support + marketing share. The net contribution margin may be 6–7 %. After absorbing fixed costs, adjusted EBITDA for food delivery has been improving.

Blinkit and Hyperpure, being capital / inventory heavy, currently run negative unit economics but aim for scale to improve margin.

Path to profitability story

Zomato’s core food delivery was mature and positive in adjusted EBITDA early. Its newer verticals are loss leaders, but as scale increases, cost per order falls, and cross-vertical synergies emerge. The group aims for long term adjusted EBITDA margins ~5–6 % of net order value (NOV).

Margin improvement strategies

• Increase order density to reduce delivery cost per order
• Raise commission or platform fees selectively in strong cities
• Push more high-margin lines (ads, subscription)
• Rationalize discounting (less subsidized orders)
• Improve operational efficiency via routing, batching, AI
• Expand dark store utilization and reduce idle capacity
• Use predictive inventory and demand forecasting to reduce wastage

Future Revenue Opportunities & Innovations

New revenue streams being tested

• Vertical expansion: Zomato could enter micro-mobility, logistics, pharmacy
• Financial services: small credit to restaurants, payments, wallet float
• Cloud kitchen / kitchen as a service: rent kitchens, franchise models
• Data & analytics product: sell aggregated insights to brands
• White labeling / B2B SaaS: offering hygiene / operations / analytics stack to others

AI / ML monetization potential

• Personalized recommendations, dynamic menu pricing
• Predictive restocking for Hyperpure
• Smart ads / bidding optimization
• Delivery path optimization to reduce cost

Expansion markets analysis

• Tier 2/3 cities domestically
• Geographic expansion in Southeast Asia, South Asia
• Adjacent delivery markets (pharma, fresh produce, hyperlocal)

Emerging features to monetize

• Subscription tiers with better benefits
• Premium delivery speed (e.g. 10-minute, priority slots)
• Featured listings / priority placement as paid feature
• Social / community features (reviews, content) with monetization

Predictions for 2025-2027

• Food delivery will remain stable growth (~20-30 % CAGR)
• Quick commerce will mature, margins will improve but growth slows
• B2B supply will become a backbone, but remain low-margin
• Advertising / subscription will take a larger share of gross profits
• AI / data monetization will emerge as meaningful margin contributor

Threats to revenue model

• Intense competition, price wars, discounting pressure
• Regulatory or gig worker labor compliance
• Infrastructural constraints (traffic, delivery inefficiencies)
• Inventory waste, perishables risk in quick commerce
• Overreliance on a few metros / urban markets

Why this creates opportunities for new players

There are niche segments (e.g. healthy food, ethnic cuisine, local groceries, underserved geographies) where clone apps can compete by customizing fees, service quality, and vertical focus. Also, lighter clones can skip heavy inventory verticals initially and lean into ad / marketplace monetization.

Lessons for Entrepreneurs & Your Opportunity

Key takeaways from Zomato’s model

• Start with a core transactional marketplace (food or local goods), build scale, get unit economics right
• Layer additional verticals (grocery, B2B supply, subscription, ads) to diversify revenue
• Use user data and engagement to cross-sell and upsell
• Push for incremental margin through ads, subscription, and pricing power
• Be cautious of overextending into capital-intensive verticals too soon

Market gaps to exploit

• Tier 3/4 cities where existing players are weak
• Niche dietary food / specialty groceries
• Local cuisine / “dark kitchens” in underrepresented areas
• B2B supply to small vendors / home chefs

Revenue model innovations possible

• Lower commission + heavier ad model
• Subscription-first models (e.g. “all you eat / free delivery for a flat fee”)
• Microtransaction models (e.g. pay-per-curated combo)
• Beacon / location-based promotions (restaurants pay when user is nearby)
• Loyalty tokenization / gamified rewards with real value

Final Thought

Zomato’s evolution from a pure food ordering platform to a multi-vertical commerce and supply engine is a masterclass in monetization layering. For entrepreneurs, the challenge is balancing growth and margins—expanding boldly but sustainably. A clone built today must pick its battles: choose which verticals to enter, when to invest, and how to sequence monetization levers. Miracuves can help you execute that strategy with technical scaffolding and monetization architecture baked in.

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