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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’? ....
Zomato news: Zomato is positioning itself to compete with e-commerce giants like Amazon and Flipkart by expansion into the burgeoning direct-to-consumer (D2C) market. With the growth of its primary operations decelerating, analysts are increasingly recognising Blinkit as the forthcoming major growth avenue for Zomato., Companies News, Times Now ....
Zomato Q3 Results: Net profit jumped nearly 4x (283%) quarter-on-quarter (QoQ) to Rs 138 crore. An ET Now poll saw the figure around Rs 36 crore. The company had posted a loss of Rs 34.7 crore in the last year period. Consolidated adjusted EBITDA was positive for the third consecutive quarter at Rs 125 crore. ....