India's Zomato reported a smaller-than-expected third-quarter profit on Monday as its margins continue to face pressure from high spending on opening more centres to fulfil orders at its quick commerce platform,

Zomato recorded fiscal third quarter earnings with profit dropping significantly to Rs 59 crore. Zomato said that its margins continued to face pressure from increased spending on opening more centres to fulfill orders at its Blinkit platform.

A significant portions of Zomato's expenses came from purchases of stock-in-trade which grew to ₹1,510 crore from ₹783 crore earlier.

By Ananta Agarwal and Ashna Teresa Britto (Reuters) -Indian food delivery major Zomato's third-quarter profit more than halved on Monday, as rising competition in the quick commerce space and increased spending on opening more fulfilment centres for its Blinkit platform weighed on margins.