Zomato shares in focus after Q2 profit misses estimates
food delivery company Zomato will be in focus after the company's profit in the second quarter missed the Street estimates.
The bottomline zoomed nearly 389% YoY in the reporting period to Rs 176 crore from a year ago, but an ET Now Poll was expecting PAT to be around Rs 260 crore.
Revenue from operations rose 68% year-on-year to Rs 4,799 crore in the reporting period
The bottomline growth was driven by steady increase in food delivery margins and quick commerce business continuing to remain near break-even.
Adjusted EBITDA for the reporting quarter also rose multifold to Rs 331 crore as against Rs 41 crore in the last year quarter.
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