Zomato serves great earnings

Zomato is the top gainer on the BSE since the opening bell today; opening more than 4% higher at Rs.244, the stock hit a new 52-week high at Rs.278.45, up 19%.

The stock hit a new high on the back of its very good earnings reported for Q1FY25. From a very low base net profit of Rs.2 crore in Q1FY24, for the current Q1, its net profit came in at Rs.253 crore. This was on a 74% (YoY) jump in revenue at Rs.4206. crore. On a sequential basis, the firm's net profit grew 44.5%.

Across its B2C businesses, which is food delivery, quick commerce and dining-out, the gross order value (GOV) jumped 53%.

The business of Zomato, like seen in previous few quarters is being driven by its quick delivery unit, Blinkit. Its GOV and revenue rose 22% sequentially.