 "Zomato records over 100-fold jump in profit, revenue rises 74%")
Food delivery aggregator Zomato on Thursday reported a multifold jump in consolidated net profit to Rs 253 crore for the April-June quarter of 2024-25 compared to Rs 2 crore in the year-ago period.
Zomato’s revenue from operations jumped more than 74 per cent to Rs 4,206 crore in the first quarter of this fiscal from Rs 2,416 crore in the April-June period of last year, according to a regulatory filing by the company.
Zomato’s total expenses also rose to Rs 4,203 crore during the quarter under review, from Rs 2,612 crore a year ago.
The reporting segments for the group include the food ordering and delivery business, Hyperpure Supplies (B2B), its quick commerce offering Blinkit, the going out segment and all other residual segments.
In a letter to shareholders, Zomato Chief Financial Officer Akshant Goyal shared that the gross order value (GOV) growth across its B2C businesses (food delivery, quick commerce and Going-out) accelerated to 53 per cent YoY (14 per cent QoQ) to Rs 15,455 crore.
”On the profitability front, consolidated Adjusted EBITDA increased by Rs 287 crore YoY to Rs 299 crore in Q1FY25 driven by margin expansion in all the four businesses. Business turned Adjusted EBITDA positive exactly one year ago (in Q1FY24), and within a year we are now at an annualised profit of about Rs 1,200 crore,” Goyal shared.
Blinkit co-founder and CEO Albinder Dhindsa said the quick commerce firm sees a line of sight of getting to about 2,000 stores for its current business.
Impact Shorts
More Shorts”Most of these stores would be in the top 10 cities in India,” he said, adding that beyond the large cities, the size of the market is still undiscovered.
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
