Zomato Declares Financial Results : The online food delivery company has announced its financial results for the March quarter and the entire financial year 2023-24 (FY24). The special thing is that the company has shown profit in both quarterly and annual results, recovering from previous losses. According to the information given by the company in its filing on Monday, the consolidated net profit of Zomato Limited in the March quarter was Rs 175 crore. Whereas in the March quarter (Q4FY23) of last year, the company had shown a consolidated loss of Rs 188 crore.
Profit of Rs 351 crore in the entire financial year
Zomato Limited has also informed about earning profit during the entire financial year ending March 31, 2024. According to the company’s filing, it has earned a consolidated net profit of Rs 351 crore during the entire financial year 2023-24, whereas in its previous financial year i.e. 2022-23, the company had suffered a total consolidated net loss of Rs 971 crore.
Consolidated revenue from operations of the company in the March quarter stood at Rs 3,562 crore. In comparison, during last year’s March quarter (Q4FY23), this figure was Rs 2,056 crore. The total expenses of the company during this period were Rs 3,636 crore, whereas in the same quarter last year this figure was Rs 2,431 crore.
According to the data released on Monday, there has been a significant improvement in the operating income of Zomato Limited. The company’s consolidated revenue from operations during the entire financial year (FY24) stood at Rs 12,114 crore, whereas during the previous financial year (FY23) this income was Rs 7,079 crore.
Do not compare with last year’s figures
Before forming any opinion looking at the company’s results, it is important to keep in mind that comparing the financial results of Zomato for the financial year (FY24) ending 31 March 2024 with the figures for the financial year (FY23) ending 31 March 2023. Would not be right. This is because the company had acquired Blink Commerce Private Limited (old name Grofers India Private Limited) in June 2022.
(This news is being updated)
