Zomato Q1 Results Total Income ₹4,206 Crore & Operating Profit ₹28 Crore

Zomato Q1 Results: Zomato’s Q1 results show strong growth in both revenue and profits. The company’s total revenue for June 2024 was ₹4,206 crore, which is a 74.09% year-over-year (YoY) increase compared to June 2023, when revenue was ₹2,416 crore. This is a major improvement in Zomato’s performance. On a quarter-on-quarter (QoQ) basis, revenue increased by 18.08%, from ₹3,562 crore in March 2024. This steady growth highlights the company’s ability to generate more income each quarter.

The net income also grew significantly. In June 2024, Zomato reported a net income of ₹253 crore, compared to just ₹2 crore in June 2023, marking a huge year-over-year (YoY) increase of 12,550%. This shows that Zomato has become much more profitable compared to last year. Even quarter-on-quarter (QoQ), net income rose by 44.57%, from ₹175 crore in March 2024.

Another important factor is the operating expenses, which increased year-over-year (YoY) by 61.06%, reaching ₹4,178 crore in June 2024. However, Zomato managed to generate a small operating profit of ₹28 crore this quarter, compared to losses last year and last quarter. Year-over-year (YoY) growth in other areas, like expenses, shows Zomato’s expanded operations and ability to manage costs effectively while increasing revenue.

Here's a summary of Zomato Q1 Results (FY24):

(All figures in crores except per share values)

Source: Here 

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Zomato Q1 Results

The financial results for Zomato for the quarter ending June 30, 2024, show significant growth compared to the previous quarter and the same period last year. The company's revenue from operations increased to INR 4,206 crore, up from INR 3,562 crore in the March 2024 quarter and INR 2,416 crore in June 2023. This rise in revenue shows that Zomato is expanding and performing well in its core business of food delivery and related services. Additionally, Zomato earned INR 236 crore in other income, such as interest or investment returns, which is consistent with the previous quarter.

Zomato’s total expenses for the company also increased, reaching INR 4,203 crore in June 2024, compared to INR 3,636 crore in March. This includes higher costs for purchasing goods, employee benefits, delivery charges, and other operational expenses. Despite these rising costs, Zomato's profit before tax improved to INR 239 crore, a significant jump from INR 161 crore in March 2024 and a loss of INR 15 crore in June 2023.

Zomato's profit after tax stood at INR 253 crore, highlighting a steady increase in profitability. Zomato’s earnings per share (EPS) also improved to INR 0.29, reflecting better financial performance for shareholders. Overall, these results show positive growth and financial stability for Zomato in 2024.

Here is a simplified summary of the financial results for the quarter ended June 30, 2024:

(INR Crores)

Zomato Financial Metrics

Zomato table provides key financial details and shows market capitalization, which is ₹2,43,255 Crores, indicating its total value in the stock market. The current price of Zomato's stock is ₹275. The stock has fluctuated between ₹282 (high) and ₹97.8 (low). Its Price-to-Earnings (P/E) ratio is 404, meaning the stock is priced very high compared to its earnings. The book value per share is ₹23.1, and it does not currently offer any dividends. 

Here’s the information presented in a table format:

Quarterly Results 

In the Zomato financial table for December 2023, March 2024, and June 2024, we see the company's performance across three quarters. In December 2023, Zomato had sales of ₹3,288 crores and expenses of ₹3,237 crores, resulting in a small operating profit of ₹51 crores and a 2% profit margin. By March 2024, sales grew to ₹3,562 crores, expenses were ₹3,476 crores, and operating profit increased to ₹86 crores with the same 2% profit margin. 

Here's the transposed table with the particulars for December 2023, March 2024, and June 2024:

(Rs. Crores)

About Zomato 

Zomato started in 2010 and has grown into a leading technology platform that connects people, restaurants, and delivery partners. For customers, Zomato is a one-stop shop to find and explore restaurants. You can read and write reviews, view photos, order food delivery, book a table, and even pay for your meal while dining out.

Restaurants use Zomato to attract and keep customers. We offer special marketing tools that help them grow their business and engage with their customers. We also make sure that their food reaches customers reliably through our efficient delivery service. Our platform includes Hyperpure, which supplies high-quality ingredients and kitchen products to restaurants.

For delivery partners, Zomato provides clear and flexible ways to earn money. Our platform makes it easy for everyone involved to interact and benefit from the services we offer. Zomato aims to make dining out and food delivery as smooth and enjoyable as possible for customers, while also supporting restaurants and delivery partners in their businesses.