Zomato Q2 Results: Online food delivery giant Zomato Ltd on Tuesday reported 389% year-on-year rise in its consolidated net profit for the fiscal’s second quarter ended September (Q2FY25) to ₹176 crore. The company had reported a profit of ₹36 crore in the year-ago period. Sequentially, the net profit was down 30.43% from ₹253 crore in Q1FY25.
The revenue from operations stood at ₹4,799 crore for the July-September quarter which was higher by 68.50% from ₹2,848 crore reported in the corresponding quarter of the previous financial year.
The consolidated total income for the quarter that ended September stood at ₹5,020 crore which was up 64% from ₹3,060 crore reported in the corresponding quarter of the previous financial year (Q2FY24).
According to the company’s exchange filing, the adjusted EBITDA for the current quarter significantly increased to ₹331 crore from ₹41 crore in the corresponding period last year.
“Bottomline (adjusted EBITDA) continued to improve driven by steady increase in food delivery margins and quick commerce business continuing to remain near break-eve,” the company said in an exchange filing.
Gross order value
In Q2FY25, there was a 55% year-on-year (YoY) growth in GOV across their B2C businesses, amounting to ₹17,670 crore, which marks a 14% quarter-on-quarter (QoQ) improvement. When excluding the impact of the acquisition of Paytm’s entertainment ticketing business, the like-for-like basis shows a 53% YoY growth and a 13% QoQ improvement.
Blinkit
Blinkit, Zomato’s quick commerce business, experienced a 129% year-on-year growth in adjusted revenues, reaching ₹1,156 crore. The gross order value (GOV) also saw a 122% year-on-year increase to ₹6,132 crore.
Despite this growth, the adjusted EBITDA remained negative at (- ₹8 crore). While the EBITDA losses have decreased from ₹124 crore a year ago, they have widened from ₹3 crore in the preceding June quarter. The margins for the segment stood at -0.1%.
Zomato share price today
Following the results on Tuesday, Zomato share price on BSE finished 3.58% lower at ₹256.20 per share. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that the Zomato share price is down 4% and has broken below its previous support of 260, forming a lower top, lower bottom structure. As of now, as long as prices don’t break back above 270, expect this weakness to continue with the next support at 240.
