Shares of Zomato surged by over 17% to INR 274.6 during today's intraday session on the BSE after the company's consolidated net profit for Q1 FY25 soared to INR 253 crore, a multifold increase year-on-year (YoY). The stock opened at INR 244, marking a 4% increase from the previous close. By 10:20 AM, the shares were trading at INR 274.6.
Recently, Inc42 reported that Deepinder Goyal’s startup achieved its first profitable quarter in Q1 FY24, with a net profit of INR 2 crore. Zomato’s profit rose by nearly 45% quarter-on-quarter (QoQ) to INR 175 crore. Additionally, Zomato’s revenue from operations grew by 74% to INR 4,206 crore in Q1 FY25 from INR 2,416 crore in the same quarter last year, and increased by 18% from INR 3,562 crore in Q4 FY24.
Blinkit, Zomato’s quick commerce vertical, continued to perform strongly, with a 145% YoY revenue increase and a 22.5% QoQ rise to INR 942 crore. Blinkit’s gross order value (GOV) for Q1 FY25 was INR 4,923 crore, more than doubling YoY. Zomato’s core food delivery segment also showed growth, with adjusted revenue increasing by 30% YoY and 10% QoQ to INR 2,256 crore in Q1, and its GOV for the food delivery vertical rising by 27% YoY to INR 9,264 crore from INR 7,318 crore in the previous year.
Zomato is also launching a new app called 'District' for its 'going-out' business, allowing customers to discover and book restaurants, and purchase tickets for movies, sports, and live performances. Goyal indicated that the app could become a significant B2C business for Zomato if executed well. Additionally, Zomato has entered preliminary discussions with Paytm to acquire its movie ticketing and events business, Paytm Insider, highlighting the 'going-out' vertical as a future focus area for the company.
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