Zomato turned PAT positive in Q1FY24, ahead of schedule and the first one to do so. Also, as the firm continued its growth in profitability in Q3FY24, the stock regained attention. But the question remains: Is it still a good ‘buy’?
Internet stocks are recovering in 2023 after a weak investor response to their initial public offerings. This comes on the back of an improvement in their profitability in the recent quarters.