Zomato shares fall over 6% as Q4 FY24 results miss estimates; check details

Before regaining some ground, the stock fell as much as 6.2% to ₹182 apiece in the morning trade.

At 10:20 am, the scrip was down 2.6% at ₹189.2 on the National Stock Exchange (NSE). It was trading at ₹189.2, down 2.3% on the BSE.

The company's total market capitalisation (m-cap) stood at ₹1.67 lakh crore, while the free float m-cap was ₹1.10 lakh crore.

Zomato Q4 results

The food delivery company saw a 26.8% rise in consolidated net profit quarter-on-quarter (QoQ) to ₹175 crore in Q4 FY24 from ₹138 crore in the December quarter. In Q4 FY23, the company had reported a net loss of ₹188 crore.

However, the company missed street estimates. The company also surrendered its payment aggregator and wallet license to the Reserve Bank of India.

In FY24, Deepinder Goyal-led firm's consolidated revenue from operations was ₹12,114 crore, up 71.1% from ₹7,079 crore in the last fiscal. In the same period, consolidated net profit was recorded at ₹351 crore as against a net loss of ₹971 crore in the FY23.

Zomato said that the gross order value (GOV) across food delivery, quick commerce (Blinkit) and going-out jumped to 51% YoY (5% QoQ) to ₹13,536 crore.

• Food delivery GOV grew 28% YoY (-0.6% QoQ)
• Quick commerce GOV grew 97% YoY (14% QoQ)
• Going-out GOV grew 207% YoY (25% QoQ)

Blinkit, a Zomato subsidiary, also turned adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) positive in March 2024.