Net profit has increased 126.5 times to ₹253 crore for the food aggregator in the April-June quarter, or Q1FY25, versus ₹2 crore in the comparable period of the previous year. This is the fifth consecutive quarter for the company to be in the black. “The revenue demonstrated a strong growth of 74% on a year-on-year basis and reached ₹4,206 crore during this period, despite broader e-commerce sector challenges on account of high inflation and muted demand,” the company said in its release.
A stellar set of financial performance was aided by the continued outperformance in its core food delivery business and quick commerce vertical company, Blinkit. Zomato’s stock has risen 174 per cent in the past one year with the company’s shares trading at a price-to-earnings ratio of about 148 times.
This strong performance is a testimonial to Zomato’s capability in navigating an otherwise miss-driven market and capturing emerging opportunities in Q-commerce.
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Source: Moneycontrol
News Desk
