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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.

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