Zomato posted a Rs 36-crore profit after tax (PAT) against the estimates of Rs 5-crore loss by ETNow poll. The company had posted a surprise profit of Rs 2 crore in the preceding June quarter and a loss of Rs 251 crore in the year-ago period.
Zomato posted a net profit of Rs 36 crore, while revenue grew 71 percent on year to Rs 2,848 crore. The growth comes at a time when the e-commerce sector is facing the inflation heat and muted demand
Zomato reported a surprise profit for the second-quarter of the ongoing financial year 2023-24 (Q2 FY24). The company posted a net profit of Rs 36 crore for the quarter ended September 30, 2023. It had reported a loss of Rs 251 crore a year ago.
Zomato, which mentioned in the previous quarter that its adjusted revenue would compound at a 40%+ growth rate over the next couple of years, reiterated the outlook and is confident of delivering the same.