Zomato shares in focus after Q2 profit misses estimates

economictimes.indiatimes.com:

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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