Mumbai9 minutes ago
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After weak quarterly results, Zomato’s shares are falling by more than 9% today i.e. on January 21. Earlier yesterday also its shares had fallen by 7.27%.
According to the results released yesterday, the company’s profit declined by 57% on an annual basis to Rs 59 crore in the third quarter of the financial year 2024-25. The company had made a profit of Rs 138 crore in the same quarter a year ago.
Zomato’s share price is as of 10:19 am.
Profit decreased by 66% compared to the second quarter
The company’s profit has decreased by 66.47% compared to the second quarter. The company had made a profit of Rs 176 crore in July-September 2024. Talking about revenue during this period, there was a growth of 12.63%. In the last quarter the company had generated a revenue of Rs 4799 crore.
Consolidated Profit means performance of the entire group The results of companies come in two parts – standalone and consolidated. Standalone reports show the financial performance of only one unit, while consolidated financial reports report on the entire company.
Here, Zomato has 28 subsidiaries, 1 trust and 1 associate company including Blinkit. The financial reports of all these will be called consolidated. Whereas, if the separate result of Blinkit will be called standalone.
Zomato’s shares fell by more than 18% in a month It has fallen by 18% in a month and by more than 19% since January 1 this year. Whereas in the last one year the company has given positive returns of 70%. The market cap of the company is Rs 1.96 lakh crore.
Blinkit’s loss and revenue of Rs 103 crore increased 117% Zomato’s quick commerce business Blinkit has suffered a loss of Rs 103 crore in the third quarter. However, the company’s revenue has increased by 117% compared to last year and 21% compared to the July-September quarter.
At the same time, if we talk about EBITDA, compared to last year’s positive EBITDA of Rs 48 crore, it has been negative by Rs 30 crore in the same quarter of the current financial year.
On the results, Blinkit said that during October-December the company has made investments for business growth. The company will cross the mark of 2000 stores by the end of 2025. Blinkit crossed the 1,000 stores mark this quarter.