08-Feb-2024
2 mins read
Zomato Limited, a food delivery company, released the third quarter earnings for FY 24 on Thursday, February 8, 2024. It reported a consolidated Net profit of Rs 138 crore as compared to previous quarter profit at Rs 36 crore. Company improved its financial performance in FY24 as compared to the previous financial year.
Revenue up by 69% on a year-on-year basis to Rs 3,288 crore. While, in the third quarter of previous fiscal the revenue was at Rs 1,948 crore.
The company made 51.8% of its total operating revenue via a food ordering and delivery business. It grew 10.2% to Rs 1,704 crore in Q3 FY24 from Rs 1,546 crore in Q2 FY24.
Collections from B2B and B2C Businesses
Collections from its B2B Business increased 15.3% to Rs 859 crore during the same period. Gross order value for the quarter across B2C businesses grew 47% on YoY basis. On an annualized basis GOV crossed Rs 50,000 crore in the B2C businesses.
While, Blinkit contributed Rs 644 crore to group coffer’s. Additionally, Zomato earned Rs 291 crore as non- operating income in Q3 FY24. As a result its overall revenue crossed Rs 3,500 during the period.
How Much Company Spent in Marketing?
Coming to expenses, Zomato spent Rs 374 crore on advertisement and promotions. Delivery and other related charges accounted for Rs 1,068 crore, purchase of Rs 782 crore, while employee benefit cost remained flat at Rs 423 crore. Company spent Rs 1.03 to earn a rupee in Q3 FY24.
Today, Zomato share price traded with a bullish note and closed the session at Rs 144.10 with an intraday rise of 2.64%.