Zomato Q2 Results: Net profit at ₹36 crore, revenue up 72% to ₹2,848 crore
Zomato Q2 Results: Zomato announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Friday, November 3, reporting a net profit of ₹36 crore, against a net loss of ₹251 crore in the corresponding period last year. The online food delivery platform's revenue from operations in the second quarter of current fiscal came in at ₹2,848 crore, registering a growth of 72 per cent, compared to ₹1,661 crore in the year-ago period.
Zomato is cautiously optmistic on higher sequential growth in the third quarter on the back of festive season demand and ICC Cricket World Cup. “While people order a lot during festivals, they also travel and eat-out a lot more.
The World Cup should result in additional orders, but we think that would also be limited to a handful of matches," said Zomato in a regulatory filing to the stock exchanges. During the September quarter, the company's cash balance increased by ₹188 crore.
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