- Net Profit Growth: Zomato’s net profit surged by 389% year-on-year (YoY) to ₹176 crore in Q2 FY24. This is a significant jump compared to the same period last year.
- Revenue Growth: The company’s revenue for Q2 FY24 increased by 28% YoY, reaching ₹2,613 crore.
- EBITDA: Zomato reported an EBITDA of ₹198 crore, which represents a significant rise from ₹26 crore in the previous year.
- Order Volume: The company saw growth in food delivery orders, with the average monthly order volume for Q2 standing at 2.4 billion.
- Cash and Liquidity: Zomato’s cash reserves stood at ₹12,148 crore as of September 30, 2023.
- Fundraising Approval: The board approved a proposal to raise up to ₹8,500 crore through a Qualified Institutional Placement (QIP).
- Future Outlook: Zomato remains optimistic about its future growth, continuing to focus on increasing food delivery volumes and expanding the restaurant business.
This positive financial performance highlights Zomato’s strong growth, particularly in terms of profitability and revenue, alongside its ongoing expansion plans through strategic fundraising.
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