Mumbai4 hours ago
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Food delivery company Zomato's profit in the July-September quarter has increased by 388% on an annual basis to Rs 176 crore. The company's consolidated net profit in the same quarter a year ago was Rs 36 crore.
Zomato released its results for the second quarter of financial year 2024-25 on Tuesday, October 22. The company's revenue in the second quarter increased by 68.50% to Rs 4,799 crore. Revenue in the same quarter a year ago was Rs 2,848 crore.
Zomato gave a return of 135.58% in one year
Zomato shares fell 3.44% today and closed at Rs 256.55. The company's shares have increased by 32.69% in the last 6 months. The company's shares have given a return of 135.58% in the last one year. The market cap of the company is Rs 2.23 lakh crore.
Consolidated profit means performance of the entire group
The results of companies come in two parts – standalone and consolidated. Standalone reports show the financial performance of only one unit, while consolidated financial reports report on the entire company.
Here, Zomato has 28 subsidiaries, 1 trust and 1 associate company including Blinkit. The financial reports of all these will be called consolidated. Whereas, if the separate result of Blinkit will be called standalone.
Deepinder created Foodibee in 2008, then changed the name to Zomato.
- Deepinder Goyal and Pankaj Chadha together launched their food directory website named Foodibay in 2008. In just nine months, FoodieBay became the largest restaurant directory in Delhi NCR.
- After two successful years, in 2010, the company was renamed Zomato. Soon after its success in Delhi-NCR, the company started expanding branches in cities like Pune, Ahmedabad, Bengaluru, Chennai and Hyderabad.
- By 2012, Zomato had begun expanding overseas by expanding its services to Sri Lanka, UAE, Qatar, South Africa, the UK and the Philippines. In 2013, New Zealand, Turkey and Brazil were added to this list.
- Zomato is the country's first foodtech unicorn. Startups valued at more than $1 billion are called unicorns. For the first time, Zomato had registered a profit of Rs 2 crore in the first quarter of the financial year 2024.
- Zomato is a technology platform that connects customers, restaurant partners and delivery partners. Apart from food delivery, Zomato founder Deepinder Goyal had purchased Blinkit in August 2022 for grocery delivery.
