News

Published: August 5, 2024
Updated: August 5, 2024

Zomato's Stellar Q1 Performance: A Recipe for Success

Revenue Rises to New Heights

Zomato's Q1 results have left investors and analysts impressed, with revenue soaring 74% year-on-year to Rs 4,206 crore. This significant growth can be attributed to the company's diversified business model, which includes food delivery, quick commerce, and dining out.

Profitability on the Rise

The food aggregator's net profit jumped multifold to Rs 253 crore, a significant increase from Rs 2 crore in the same quarter last year. This remarkable growth in profitability is a testament to Zomato's focus on operational efficiency and margin expansion.

Blinkit Shines Bright

Zomato's quick commerce vertical, Blinkit, continued to drive growth, with revenue increasing 22% sequentially to Rs 942 crore. Blinkit's gross order value (GOV) grew to Rs 4,923 crore, up from Rs 4,027 crore in the previous quarter.

Food Delivery and Dining Out

Zomato's food delivery business saw adjusted revenue grow 10% quarter-on-quarter to Rs 2,256 crore, while the dining-out business reached an adjusted revenue of Rs 95 crore. The company's focus on expanding its offerings in the going-out space is expected to drive further growth.

Hyperpure's Steady Growth

Zomato's B2B supplies vertical, Hyperpure, reported a 27% quarter-on-quarter increase in revenue to Rs 1,216 crore. This steady growth demonstrates the company's ability to cater to the needs of restaurants and food establishments.

Zomato's Q1 performance is a clear indication of the company's ability to execute its growth strategy effectively. With a diversified business model, focus on operational efficiency, and expansion into new areas, Zomato is well-positioned to continue its growth trajectory. As the company continues to innovate and adapt to changing consumer preferences, it is likely to remain a leader in the food tech space.