Zomato Q1 Results: At ₹2 cr food delivery platform reports net profit for the first time

The company reported a net profit of ₹two crore against a loss of ₹186 crore (YoY)

By Connect Gujarat Desk 03 Aug 2023 in Business News

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Zomato Q1 Results: At ₹2 cr food delivery platform reports net profit for the first time

Food delivery platform Zomato on Thursday announced its Q1 earnings for FY24.

The company reported a net profit of ₹two crore against a loss of ₹186 crore (YoY).

The revenue of the firm was up at ₹ ₹2,416 cr vs 1,414 cr (YoY).

The company reported a profit of 20 million rupees ($241,861.37) for the quarter ended June 30.

Zomato, which also runs grocery delivery service Blinkit, said consolidated revenue from operations rose 70.9% to 24.16 billion rupees in the first quarter.

That beat analysts average estimate of 22.86 billion rupees, according to Refinitiv IBES data.

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