Food delivery business Zomato’s market value is now $28 billion, a day after better-than-expected earnings for the April-June quarter. On BSE, Zomato’s shares surged as much as 19% to record high Rs 278.45. Top gainer on the Nifty 100, the shares have gained 113% so far this year.
Comparatively to Rs 2 crore in the year-ago period, Zomato on Thursday recorded a tenfold increase in total net profit to Rs 253 crore for the April-Junger quarter of 2024-25.
From Rs 2,416 crore in the April-June period of last year, the company’s income from operations surged more than 74% to Rs 4,206 crore in the first quarter of the current fiscal.
From Rs 2,612 crore a year earlier, its overall costs for the quarter under review also climbed to Rs 4,203 crore.
Rising contributions from its quick-commerce component Blinkit and business-to-business grocery supply company Hyperpure mostly drove the first-quarter revenue rise.
For its going-out business—dining out, events, ticketing—Zomato has unveiled a stand-alone app called District.
Blinkit has expanded its ambitious growth strategy and market experts believe is driving the increase in Zomato’s value. Blinkit now seeks to establish 2,000 dark shops by the end of 2026, said chief executive Albinder Dhindsa.
The group’s reporting consists of the food ordering and delivery company, Hyperpure Supplies (B2B), Blinkit’s rapid commerce providing, the going out segment, and all other residual segment offering.
