Shares of Zomato rallied over 17% to INR 274.6 during the intraday session on BSE today after the foodtech major’s consolidated net profit zoomed multifold YoY to INR 253 Cr in Q1 FY25
Zomato’s revenue from operations jumped 74% to INR 4,206 Cr in Q1 FY25 from INR 2,416 Cr in the corresponding quarter last year
The stock opened today at INR 244, a 4% jump from the previous close
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Shares of Zomato touched a 52-week high, INR 278.45, in early trading hours today (August 2), after the foodtech major’s consolidated net profit zoomed multifold year-on-year (YoY) to INR 253 Cr in the June quarter (Q1) of the financial year 2024-25 (FY25).
At 10:20 AM shares were trading at INR 274.6, 17% higher as compared to its previous close at INR 234.1.
The stock opened today at INR 244, a 4% jump from the previous close.
Yesterday, Inc42 reported that the Deepinder Goyal’s startup posted its first profitable quarter in Q1 FY24, with a net profit of INR 2 Cr. Zomato’s profit rose nearly 45% quarter-on-quarter (QoQ) to INR 175 Cr.
Zomato’s revenue from operations jumped 74% to INR 4,206 Cr in Q1 FY25 from INR 2,416 Cr in the corresponding quarter last year. Operating revenue rose 18% from INR 3,562 Cr in Q4 FY24.
The company continued its run on the profit lane with Blinkit continuing to lead the show. Blinkit witnessed a massive 145% jump YoY and a 22.5% rise QoQ in its revenue to INR 942 Cr in the reported quarter.
The quick commerce vertical’s gross order value (GOV) hit INR 4,923 Cr in Q1 FY25, more than doubling year-on-year (YoY). Meanwhile, Zomato’s core food delivery segment showed moderate growth, with adjusted revenue climbing 30% YoY and 10% quarter-on-quarter (QoQ) to INR 2,256 Cr in Q1.
The food delivery vertical’s GOV stood at INR 9,264 Cr in the June quarter as against INR 7,318 in the year-ago period, registering a 27% rise YoY.
Besides, the listed platform is also launching a new app ‘District’ for its ‘going-out’ business. The app will allow customers to discover and book restaurants and book tickets for movies, sports, live performances, among others.
“Building a one stop destination app for going-out could be a game changer for each of these use cases, and we intend to do exactly that with our new District (by Zomato) app. If we execute this well, we see going-out becoming the third large B2C business emerging out of Zomato,” Goyal said at the time.
It is noteworthy that Zomato recently engaged in preliminary discussions with Paytm to acquire its movie ticketing and events business. Following the revelation of these talks to acquire Paytm Insider, Goyal stated that the going-out vertical will be a key focus area for Zomato in the future.
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