ZNOMATO INTRODUCES DISTRICT: MOBILE APP MARKING ZOOMIN ON GONOUT BUSINESSES AND TICKETING MARKET

Mumbai, India - Food aggregator Zomato has launched its latest consumer-facing venture, District, a dedicated mobile app for its growing "going-out" business. Available on both iOS and Android platforms, this new vertical aims to consolidate the company's offerings in dining, movies, sports ticketing, live performances, shopping, staycations, and more.

Initially, the District app enables users to book tickets for movies and live events, marking Zomato's entry into the competitive online ticketing market. The company's going-out business combines its Dining-out and Zomato Live business verticals.

District joins a growing list of competitors in the online ticketing space dominated by BookMyShow, which controls a 60% market share in India's movie ticketing segment. In an effort to strengthen its position, Zomato had acquired Paytm's entertainment business, Insider, for INR ( Indian Rupee) 2,048 crore in late August.

Notably, the food delivery aggregator has reported a net profit for the fifth consecutive quarter in the three-month period ended September. The company announced a net profit of INR 176 crore for the July-September period and observed a significant increase in revenue on an adjusted basis, rising by 69% from the same quarter last year to INR 4,799 crore.