HELPED BY A tax reversal, food delivery platform Zomato on Thursday reported a consolidated net profit of ₹2 crore for the first quarter ended June. In Q1FY23, the company had posted a loss of ₹186 crore. Zomato benefited from a tax reversal of ₹17 crore during the quarter, reporting a loss before tax of ₹15 crore.
Operating revenue in Q1FY24 grew to ₹2,416 crore, a jump of 71% y-o-y over ₹1,414 crore a year ago. The gross order value (GOV) saw an increase of almost 14% to ₹7,318 crore, up from ₹6,425 crore a year ago. The GOV also rose sequentially by around 11.5% from ₹6,569 crore.
Zomato's shares jumped over 2% on the NSE after the company's results announcement.
Zomato CEO Deepinder Goyal had previously said all businesses, including Blinkit and Hyperpure, would turn profitable by FY24-end.
Diese Geschichte stammt aus der August 04, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der August 04, 2023-Ausgabe von Financial Express Mumbai.
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