- Zomato reported a surprise profit of Rs 36 crore ($4.32 million) in the second quarter of the fiscal year, marking a turnaround from a net loss of Rs 251 crore in the same period the previous year.
- The company’s net profit was boosted by increased consumer orders from restaurants and its online grocery stores.
- Analysts expected Zomato’s revenue growth to outpace gross order value (GOV) growth in the second quarter, with improvements in take-rates contributing to higher revenue.
- Zomato’s quick commerce business is expected to achieve contribution-level profitability in the near future, with predictions of profitability at the adjusted EBITDA level by the June quarter of FY25.
- The company may report a 57% year-on-year increase in net sales to reach Rs 2,607 crore, and analysts forecast a net profit of Rs 42.6 crore, driven by growth in food delivery, Hyperpure, and Blinkit revenues.