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  1. Zomato Q1 results: Net profit zooms to ₹253 crore, revenue jumps 74% YoY

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Zomato Q1 results: Net profit zooms to ₹253 crore, revenue jumps 74% YoY

Upstox

2 min read | Updated on August 01, 2024, 15:52 IST

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SUMMARY

Zomato's stock rose on the bourses after the June quarter results were declared. At around the closing bell, the shares peaked to a high of ₹238 apiece on the NSE, up 3.68% as against the last closing price.

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Zomato shares hit record high amid expectations of robust Q1 results: Key factors to watch out for

Sequentially, the net profit during the quarter under review climbed 44.5%

Food delivery aggregator Zomato on Thursday, August 1, posted a consolidated net profit of ₹253 crore for the first quarter of fiscal year 2024-25 (Q1FY25).

In the corresponding period of the previous fiscal, the company's net profit stood at only ₹2 crore. Sequentially, the net profit during the quarter under review climbed 44.5% as against ₹175 crore in Q4FY24.

The consolidated revenue from operations climbed 74.1% year-on-year (YoY) to ₹4,206 crore, as against ₹2,416 crore in the June 2023 quarter.

Sequentially, the revenue from operations rose 18% from ₹3,562 crore in the fourth quarter of the last fiscal.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) during the June 2024 quarter rose to ₹177 crore, as compared to an EBITDA loss of ₹48 crore in the year-ago period.

Zomato's expenses during Q1FY25 also accelerated, rising 60% YoY to ₹4,203 crore from ₹2,612 crore in Q1FY24. In the preceding March 2024 quarter, the expenses stood at ₹3,636 crore.

Shares of Zomato rose on the bourses after the June quarter results were declared. At around the closing bell, the scrip peaked to a high of ₹238 apiece on the NSE, up 3.68% as against the last closing price.

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