Zomato Q1 results indicate a significant increase in net profit to Rs 253 crore, with a share day high of 278.70 and a day low of 243.00.
Zomato's net profit surged 126.5 times to reach Rs 253 crore in the April-June quarter (Q1), compared to the same period last year. This is the fifth consecutive quarter in which Zomato has reported a profit. The company's revenue also increased by 74 percent year-on-year to Rs 4,206 crore.
During the same quarter last year, Zomato had posted a net profit of Rs 2 crore and revenue of Rs 2,416 crore.
Zomato's stock price has risen by 174 percent over the past year, with a current P/E ratio of about 148 times. The company's market capitalization has also reached over Rs 2 lakh crore (over $25 billion).
Zomato witnessed a 27 percent increase in food delivery gross order value (GOV) to Rs 9,264 crore in the quarter, and a 130 percent rise in quick commerce GOV to Rs 4,923 crore, compared to the previous year.
The company attributes the growth in quick commerce to the changing consumer preferences for faster delivery. This has resulted in a shift of several non-grocery use cases to quick commerce.
Blinkit chief Albinder Dhindsa mentioned that they are aiming to expand to around 2,000 stores, mostly in the top 10 cities in India by the end of 2026 while aiming to remain profitable. He also highlighted the growth in average gross order value (GOV) throughput per store over the past year.
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