Zomato Ltd reported a consolidated net profit of Rs 138 crore in the third quarter ended December 31, 2023, on the back of accelerated growth of quick commerce and steady performance of its core business.
In a letter to shareholders, Zomato s management said that the company s improving margins have been driven by factors like greater ad monetisation and introduction of platform fees.
In the past six months, the company’s stock price has shot up 74 percent, after remaining subdued in the preceding one year over an uncertain path to profitability
Zomato Q1 earnings: The Gurugram-based startup has been vocal about turning in a quarterly net profit in FY24, even as its food delivery arm achieved operational profitability of in the previous financial year.