Zomato Q1 Results Are Out: Net profit Hiked 253 Crores and Revenue jumps by 74%, Click here to read the full article:

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 Zomato's shares surged in the market following the announcement of the June quarter results. The stock reached a peak of ₹238 per share on the NSE at the close of trading, marking a 3.68% increase from the previous closing price.

On Thursday, August 1, Zomato, the popular food delivery service, announced a significant leap in its financial performance with a consolidated net profit of ₹253 crore for the first quarter of the fiscal year 2024-25. This marks a substantial increase from the mere ₹2 crore profit reported in the same period last fiscal year. The company's profitability saw a robust 44.5% growth compared to the ₹175 crore net profit in the preceding quarter.
In terms of revenue, Zomato's operations yielded a remarkable 74.1% year-on-year growth, with the revenue soaring to ₹4,206 crore from ₹2,416 crore reported in the June 2023 quarter. This impressive growth trajectory highlights Zomato's expanding market presence and operational efficiency.

Sequentially, the revenue from operations increased by 18% to ₹3,562 crore in the fourth quarter of the previous fiscal year.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the June 2024 quarter climbed to ₹177 crore, in contrast to an EBITDA loss of ₹48 crore in the same period last year.

Zomato's expenses during the first quarter of FY25 surged, marking a 60% year-over-year increase to ₹4,203 crore from ₹2,612 crore in Q1FY24. In the preceding quarter of March 2024, the expenses were ₹3,636 crore.

Following the declaration of the June quarter results, Zomato's shares experienced an upswing in the stock market. The stock reached a high of ₹238 per share on the NSE at the closing bell, which is a 3.68% increase from the previous closing price.

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