Login

News on Medial

Zomato management expects profitability to sustain after first ever quarterly PAT

Economic TimesEconomic Times · 1y
Zomato management expects profitability to sustain after first ever quarterly PAT

The Gurgaon-based company reported a net profit of Rs 2 crore for the three-month period ended June 30 as against a net loss of Rs 186 crore in the same period last year. Zomato also reported a 70% year-on-year surge in operating revenue to Rs 2,416 crore. Zomato's management anticipates sustained profitability after achieving its first-ever quarterly profit. The food delivery platform's optimistic outlook is driven by increased revenue and cost-saving measures. Zomato's shift towards profitability indicates a positive trajectory, reflecting its efforts to navigate market dynamics and optimize operations while capitalizing on the growing demand for online food delivery services.

13
View Source

Comments

More Like this

Oyo to report maiden net profit of Rs 16 crore in ongoing quarter

Oyo to report maiden net profit of Rs 16 crore in ongoing quarter

Zomato Completes Liquidation of Czech Republic, Vietnam Subsidiaries

Zomato Completes Liquidation of Czech Republic, Vietnam Subsidiaries

Paytm to focus on core business, profitability, to extend leadership into AI tech: CEO Vijay Shekhar Sharma | Mint

Paytm to focus on core business, profitability, to extend leadership into AI tech: CEO Vijay Shekhar Sharma | Mint

Zomato Extends Gains: Shares Jump Over 6% To Touch Fresh 52-Week High

Zomato Extends Gains: Shares Jump Over 6% To Touch Fresh 52-Week High

MobiKwik reports net profitability in Q1 FY24

MobiKwik reports net profitability in Q1 FY24

Deepinder Goyal earns ₹1,600 cr as Zomato shares hit record high

Deepinder Goyal earns ₹1,600 cr as Zomato shares hit record high

Bernstein Ups Zomato’s Price Target To INR 120, Says Foodtech Raising The Profitability Bar

Bernstein Ups Zomato’s Price Target To INR 120, Says Foodtech Raising The Profitability Bar

Meesho says logged first monthly profit after tax in July

Meesho says logged first monthly profit after tax in July

Quick grocery has caught on, and BigBasket is smiling

Quick grocery has caught on, and BigBasket is smiling

How new-age startup IPOs performed in Q1 FY24

How new-age startup IPOs performed in Q1 FY24

Download the medial app to read full posts, comements and news.