Zomato Shares Zooms Over 12%, Hit 52-Week High After Reporting Significant Profit Jump

Zomato's performance for the April-June period of FY25 was highlighted by a multifold increase in consolidated net profit to Rs 253 crore, compared to Rs 2 crore in the same period last year

Zomato's revenue from operations saw a significant boost, rising over 74 per cent to Rs 4,206 crore in Q1 FY25, up from Rs 2,416 crore in the corresponding period last year.

Source : PTI

Shares of Zomato soared more than 12 per cent on Friday following the food delivery aggregator's announcement of a substantial increase in consolidated net profit, reaching Rs 253 crore for the June quarter. On the NSE, Zomato's stock surged 12.14 per cent to trade at Rs 262.50 per share. Similarly, on the BSE, it climbed 12.13 per cent to Rs 262.50 per share. During intra-day trading, the stock advanced up to 19 per cent, hitting a 52-week high of Rs 278.70 on the NSE and Rs 278.45 on the BSE.

In broader market movements, on Friday the 30-share BSE Sensex benchmark tanked by 796 points to 81,071, while the NSE Nifty declined by 306 points to 24,705.

Zomato's impressive performance for the April-June period of FY25 was highlighted by a multifold increase in consolidated net profit to Rs 253 crore, compared to Rs 2 crore in the same period last year.

The company's revenue from operations saw a significant boost, rising over 74 per cent to Rs 4,206 crore in Q1 FY25, up from Rs 2,416 crore in the corresponding period last year, as per the company's regulatory filing. However, Zomato's total expenses also increased, reaching Rs 4,203 crore during the quarter, up from Rs 2,612 crore a year ago.

In addition to its financial results, Zomato announced the launch of a new app named 'District,' aimed at consolidating various "going-out" services such as dining, movie ticketing, and event booking. This strategic move represents a significant expansion beyond its core delivery offerings. CEO Deepinder Goyal introduced 'District' in a letter to shareholders, emphasising its integration of services like dining out, sports ticketing, live performances, shopping, and staycations into one platform. This initiative underscores Zomato's ambition to enhance its presence in the lifestyle sector.