Zomato Q4 outcomes: Firm reports Rs 175 crore profit vs Rs 188 crore loss YoY; shares close in red as earnings miss expectations | India Business News

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Zomato Q4 outcomes: Online meals supply platform, Zomato has reported a consolidated web profit of Rs 175 crore for the fourth quarter of monetary 12 months 2023-24. While this can be a vital turnaround from the Rs 188 crore loss reported in the identical interval final 12 months, the outcomes have nonetheless missed analysts’ estimates.
The income from operations for the quarter amounted to Rs 3,562 crore, indicating a rise in comparison with Rs 2,056 crore in the corresponding quarter of the earlier fiscal 12 months.Although this represented a sturdy 73% year-on-year development, it barely undershot the ET Now ballot projection of Rs 3,579 crore.
Sequentially, Zomato’s profit elevated by 27% sequentially from Rs 138 crore in the December quarter, whereas income rose by 8.3% quarter-on-quarter.
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The consolidated monetary outcomes embody unaudited data from 19 subsidiaries, displaying whole belongings of Rs 92 crore as of March 31, 2024, and whole revenues of Rs 4 crore for the quarter and Rs 14 crore for the 12 months ending March 31, 2024. The subsidiaries reported a complete web loss after tax of Rs 23 lakh for the quarter and Rs 2 crore for the fiscal 12 months ending March 31, 2024.
Zomato’s fast commerce division, Blinkit, achieved adjusted EBITDA positivity in March.
Following the announcement of earnings throughout market hours, Zomato’s inventory skilled a decline of over 7%, reaching a day’s low of Rs 186.75 on the NSE. Zomato shares closed the day at Rs 196.65, down 2.31% on NSE.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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