Zomato jumped 3.68% to Rs 237.95 after the food delivery company’s consolidated net profit spurted to Rs 253 crore during the quarter as compared with Rs 2 crore posted in corresponding quarter last year.
Revenue from operations jumped 74.09% YoY to Rs 4,206 crore in Q1 FY25.
The company reported pre-tax profit of Rs 239 crore in Q1 FY25 as against pre-tax loss of Rs 15 crore in Q1 FY24.
Adjusted EBITDA surged to Rs 299 crore in Q1 FY25 as compared with Rs 12 crore posted in same quarter last year. EBITDA margin stood at 3.4% in Q1 FY25.
Gross orer value (GOV) growth across the companys B2C businesses (food delivery, quick commerce and Going-out) accelerated to 53% YoY to Rs 15,455 crore and B2B business Hyperpures revenue jumped 96% YoY with improving profitability.
In food delivery business, GOV jumped 27% YoY to Rs 9,264 crore. Average monthly transacting custormers increased 16% to 20.3 million in Q1 FY25 as against 17.5 million in Q1 FY24.
In quick commerce business, GOV witnessed 130% growth YoY to Rs 4,923 crore. Average order value rose 7.39% YoY to Rs 625. While going-out GOV grew 106% YoY to Rs 1,268 crore during the period under review.
In letter to shareholders , Albinder Dhindsa, co founder and CEO of Blinkit, said, If everything goes as planned, it plans to get to 2,000 stores, latest by the end of 2026 while remaining profitable. Most of its stores today are under utilised from a capacity standpoint and hence GOV per day per store should continue increasing from here even as it aggressively scale store count. From a demand standpoint, customer wallet share should keep increasing as it expand the selection available on platform.
Further, Deepinder Goyal, CEO of Zomato, said, Our dining-out business which helps our customers discover restaurants when they want to go out and dine at restaurants. This dining-out business is now operating at a run-rate of $500 million annualised GOV and is already profitable.
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 3rd large B2C business emerging out of Zomato.
Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.
The counter hits all-time high at Rs 238 intraday today.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Aug 01 2024 | 4:42 PM IST
