Zomato shares in Friday’s trade rallied up to 19 per cent in Friday’s trade (August 2) as the company posted a multifold rise in net profit at Rs 253 crore, up 12,550 per cent in comparison to Rs 2 crore in the same quarter last year. While the profit soared 44 per cent sequentially, it was reported at Rs 175 crore in the previous March quarter.
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The company’s consolidated revenue from operations grew 74 per cent to Rs 4,206 crore in Q1FY25 from Rs 2,416 crore in the year-ago period.
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Furthermore, the new-age company’s gross order value was recorded at Rs 15,455 crore, up 53 per cent on-year. Also, adjusted EBITDA was reported at Rs 299 crore, up significantly from Rs 12 crore in Q1FY24.
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Here’s what brokerages make of Zomato after its Q1 results
CLSA on Zomato (CMP 234) has maintained ‘outperform’ call on the stock with the target raised to Rs 350 per share. Jefferies, meanwhile, has continued with its buy rating for a target of Rs 275. Blinkit was unexpectedly strong during the quarter, with the company aiming to reach 2000 dark stores. The brokerage has raised its FY25-27 GOV estimate for Food and Blinkit but trimmed margins on the back of company’s focus on growth.
