Zomato Q1 Results: Food delivery platform turns profitable with Rs 2 crore-PAT; revenue soars 71% YoY
Zomato reported a consolidated net profit of Rs 2 crore for the quarter ended June 2023 against a loss of Rs 186 crore in the corresponding quarter of the last financial year. The company reported a loss of Rs 189 crore in the quarter ended March.
The revenue from operations for the reporting quarter stood at Rs 2,416 crore which was up nearly 71% YoY against Rs 1,414 reported by the company in the year-ago period. The quarterly earnings were announced during the market hours and the stock jumped over 2% on the NSE.
The company in its exchange filing said that the quick commerce (Blinkit) business turned contributive positive for the first time ever in the month of June 2023. The consolidated adjusted EBITDA stood at Rs 12 crore, versus a loss of Rs 152 crore in Q1FY23.
The adjusted EBITDA margin stood at 0.4%, up by 9 percentage points YoY. The adjusted revenue excluding the quick commerce business stood at Rs 2,402 crore which was up 33% YoY.
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