Zone Out: NSE, Bengaluru Stocks Soar Post Zomato's Strong Q3 Earnings

In a bid to further consolidate its growing "going-out" business, food aggregator Zomato has launched District, a dedicated app that aims to streamline dining, movies, sports ticketing, live performances, shopping, staycations, and more. The new venture is available on both iOS and Android platforms.

District enters the highly competitive digital ticketing market in India, where BookMyShow dominates with a 60% market share. However, Zomato's acquisition of Paytm's entertainment business, Insider, for ₹2,048 crore last month signals its determination to strengthen its position.

The company reported a net profit for the fifth consecutive quarter in Q3, earning ₹176 crore from July-September revenues. Revenue on an adjusted basis surged 69% from the same period last year, reaching ₹4,799 crore.

This latest move marks Zomato's third consumer-facing venture after its flagship food delivery app and quick-commerce platform Blinkit. The decision to launch District is part of Zomato's efforts to expand its diverse "going-out" business.