Zomato Q1 Results: Net Profit Skyrockets to Rs 253 Crore Vs Rs 2 Crore YoY; Shares Hit All-Time High
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Zomato on Thursday posted a huge jump in its consolidated net profit to Rs 253 crore for the June 2024 quarter, as compared with Rs 2 crore in the year-ago period. Its revenue from operations during April-June 2024 stood at Rs 4,206 crore, which is 74 per cent higher as compared with Rs 2,416 crore a year ago.
Its food and grocery delivery services have contributed substantially to its performance.
The company’s food delivery income jumped to Rs 321 crore in Q1 FY25, compared Rs 186 crore a year ago.
Following the results, the company’s shares jumped 3.7 per cent to hit an all-time high of Rs 238 apiece on the BSE.
According to analysts, intense heat during the summer, which extended into June, also boosted demand for home deliveries, aiding both Zomato’s eponymous food delivery business and Blinkit orders.
(The story will be updated)
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