Zomato, the foodtech company, announces its second consecutive profitable quarter, reporting a net profit of Rs 36 crore for Q2 FY24, compared to a net loss of Rs 251 crore in the same quarter last year. The operating income surges to Rs 2,848 crore, marking a significant increase from Rs 1,661 crore in the year-ago quarter. Zomato’s gross order value (GOV) witnesses a robust 47% YoY growth, reaching Rs 11,422 crore in Q2 FY24. The growth in the core food delivery vertical is primarily attributed to increased order volumes, with the average order value remaining relatively stable. Additionally, Zomato’s quick commerce business, Blinkit, achieves contribution positivity for the first time during this quarter.
Zomato Reports Second Consecutive Profitable Quarter with Net Profit at Rs 36 Crore
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