Zomato's shares fell over 10% following the company's Q3 results, which reported a 57% year-on-year decline in net profit to ₹59 crore, alongside a sequential drop of 66.5%. This downturn has raised concerns among investors about the company's profitability amid rising competition in the quick commerce sector, particularly from rivals such as Swiggy, Zepto, and Flipkart. Zomato's quick commerce arm, Blinkit, has faced escalating losses, with an EBITDA loss of ₹103 crore for the quarter, significantly up from ₹8 crore in the previous quarter. Despite these challenges, Blinkit has expanded its store network, adding 216 dark stores to reach a total of 1,007. Analysts have reacted by cutting earnings estimates and share price targets for Zomato, leading to a cumulative drop of 18% in share price over three days. The National Restaurants Association of India is also planning legal action against the rapid expansion of quick delivery services, which they argue threatens traditional restaurant businesses.