Profit Nearly Quadruples QoQ To INR 138 Cr

SUMMARY

Zomato posted a net profit of INR 36 Cr in Q2 FY24 and a loss INR 346.6 Cr in Q3 FY23

Operating revenue jumped to INR 3,288 Cr in Q3 FY24 from INR 2,848 Cr in Q2 FY24

Following the Q3 earnings announcement, shares of Zomato jumped 4.6% to INR 147 on the BSE

Posting its third consecutive profitable quarter, foodtech major Zomato on Thursday (February 8) reported a consolidated profit after tax (PAT) of INR 138 Cr in the December quarter (Q3) of the financial year 2023-24 (FY24). This was a 283% jump from the previous quarter’s profit of INR 36 Cr.

The company had reported a net loss of INR 346.6 Cr in Q3 FY23.

Zomato’s operating revenue jumped to INR 3,288 Cr in Q3 FY24 from INR 2,848 Cr in Q2 FY24. This was also a 68% rise year-on-year (YoY) from an operating revenue of INR 1,948.2 Cr in Q3 FY23.

Following the Q3 earnings announcement, shares of Zomato jumped 4.6% to INR 147 on the BSE on Thursday (February 8).

[This is a developing story]