From Delhivery to Zomato, Q3 sees startups turn a profitable corner

The third quarter (Q3) of 2023–24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver.

Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24.

A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.

What is noteworthy is that analysts are now viewing these new-age businesses with optimism, a shift from the caution observed previously.

Among those achieving profitability for the