Zomato This fall outcomes: On-line meals supply platform, Zomato has reported a consolidated web revenue of Rs 175 crore for the fourth quarter of monetary yr 2023-24. Whereas this can be a vital turnaround from the Rs 188 crore loss reported in the identical interval final yr, the outcomes have nonetheless missed analysts’ estimates.
The income from operations for the quarter amounted to Rs 3,562 crore, indicating a rise in comparison with Rs 2,056 crore within the corresponding quarter of the earlier fiscal yr.Though this represented a strong 73% year-on-year progress, it barely undershot the ET Now ballot projection of Rs 3,579 crore.
Sequentially, Zomato’s revenue elevated by 27% sequentially from Rs 138 crore within the December quarter, whereas income rose by 8.3% quarter-on-quarter.
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The consolidated monetary outcomes embrace unaudited info from 19 subsidiaries, displaying whole belongings of Rs 92 crore as of March 31, 2024, and whole revenues of Rs 4 crore for the quarter and Rs 14 crore for the yr ending March 31, 2024. The subsidiaries reported a complete web loss after tax of Rs 23 lakh for the quarter and Rs 2 crore for the fiscal yr ending March 31, 2024.
Zomato’s fast commerce division, Blinkit, achieved adjusted EBITDA positivity in March.
Following the announcement of earnings throughout market hours, Zomato’s inventory skilled a decline of over 7%, reaching a day’s low of Rs 186.75 on the NSE. Zomato shares closed the day at Rs 196.65, down 2.31% on NSE.