Zomato Q1 FY25: Net Profit Surges Multifold To Rs 253 Cr, Revenue Jumps 74%

Deepinder Goyal-led Food delivery aggregator Zomato registered a net profit of Rs 253 crore in the first quarter of the current year compared to the Rs 2 crore net profit it got during the same quarter last year, registering an increase of 125 times on a year-on-year (YoY) Basis. 

Profitability has also been aided by a higher other income component, which stood at Rs 236 crore, compared to Rs181 crore during the year-ago quarter. This marks the fifth consecutive quarter of profitability for the food delivery aggregator, which competes with IPO-bound Swiggy.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the first quarter reported at a positive Rs 177 crore. The company had reported an EBITDA loss of Rs 48 crore during the same period last year. Zomato’s revenue increased by nearly 74 per cent year-on-year during the June quarter to Rs4,206 crore, compared to Rs1,416 crore last year.

Zomato's Gross Order Value (GOV) during the quarter increased by 53 per cent on a year-on-year basis to Rs 15,455 crore. The company defines gross order value as the combined GOV of consumer-facing businesses such as food delivery, quick-commerce, and going-out. Food delivery GOV grew 27 per cent YoY (10 per cent QoQ) while Quick commerce GOV grew 130 per cent YoY (22 per cent QoQ).

Zomato's quick-commerce business, Blinkit, reported an adjusted EBITDA of a negative Rs 3 crore. The company added 113 stores, which is higher than their guidance of 100 stores.