{"id":1261712,"date":"2023-08-06T08:18:12","date_gmt":"2023-08-06T02:48:12","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261712"},"modified":"2023-08-06T08:18:52","modified_gmt":"2023-08-06T02:48:52","slug":"after-15-years-zomato-posts-1st-ever-profit-rs-2-crore-profitn-against-rs-2416-crore-revenues","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/after-15-years-zomato-posts-1st-ever-profit-rs-2-crore-profitn-against-rs-2416-crore-revenues\/","title":{"rendered":"After 15 Years, Zomato Posts 1st Ever Profit: Rs 2 Crore Profitn Against Rs 2416 Crore Revenues!"},"content":{"rendered":"\n<p>Food delivery app Zomato has finally turned profitable, reporting a consolidated net profit of Rs 2 crore for the quarter ended June 2023.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Zomato-Food-Delivery-1-1280x720-1024x576-1280x720-1-1024x576.jpeg\" alt=\"After 15 Years, Zomato Posts 1st Ever Profit: Rs 2 Crore Profitn Against Rs 2416 Crore Revenues!\" class=\"wp-image-1261720\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Zomato-Food-Delivery-1-1280x720-1024x576-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Zomato-Food-Delivery-1-1280x720-1024x576-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Zomato-Food-Delivery-1-1280x720-1024x576-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/08\/Zomato-Food-Delivery-1-1280x720-1024x576-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Great surge in revenue<\/strong><\/p>\n\n\n\n<p>It reported a loss of Rs 189 crore in the quarter ended March.<\/p>\n\n\n\n<p>However, revenue from operations stood at Rs 2,416 crore, up nearly 71% YoY against Rs 1,414 crore reported in the year-ago period.<\/p>\n\n\n\n<p><strong>Blinkit turns positive<\/strong><\/p>\n\n\n\n<p>The company said that Blinkit, the quick commerce business it owns, has turned contributive positive for the first time ever in the month of June.<\/p>\n\n\n\n<p>The adjusted revenue excluding the quick commerce business stood at Rs 2,402 crore which was up 33% YoY.<\/p>\n\n\n\n<p><strong>Gross order value<\/strong><\/p>\n\n\n\n<p>Gross order value (GOV) went up to Rs 7,318 crore as opposed to Rs 6,425 crore in the corresponding quarter of the previous fiscal.<\/p>\n\n\n\n<p>It also outdid the Rs 6,569 crore reported in the March quarter.<\/p>\n\n\n\n<p>This growth came on the back of a strong growth in the number of orders along with an uptick in average order value.<\/p>\n\n\n\n<p>Demand has seen a recovery since February this year which continued into Q1FY24.<\/p>\n\n\n\n<p><strong>Customer base<\/strong><\/p>\n\n\n\n<p>The average monthly transacting customers were at 1.75 crore in Q1FY24 versus 1.67 crore in the year-ago period.<\/p>\n\n\n\n<p>The adoption of the Gold program led to more frequent orders.&nbsp;<\/p>\n\n\n\n<p>This subscription now contributes to 30%+ of GOV in the food delivery business.<\/p>\n\n\n\n<p><strong>Address to investors<\/strong><\/p>\n\n\n\n<p>Managing Director and CEO Deepinder Goyal said, &#8220;We have been working hard to make our business less complex, and putting the right people at the right spots within our businesses.&nbsp;<\/p>\n\n\n\n<p>These things do not have definite\/measurable impact, and I can in hindsight say that most of our seemingly \u201crisky\u201d bets have changed the trajectory of the business significantly, much faster than we expected&#8221;.<\/p>\n\n\n\n<p><strong>Profitability<\/strong><\/p>\n\n\n\n<p>Akshant Goyal, Chief Financial Officer shared that they <a href=\"https:\/\/m-economictimes-com.cdn.ampproject.org\/c\/s\/m.economictimes.com\/markets\/stocks\/earnings\/zomato-q1-results-food-delivery-platform-posts-surprise-profit-of-rs-2-crore\/amp_articleshow\/102387827.cms\">expect <\/a>business to remain profitable going forward.<\/p>\n\n\n\n<p>&#8220;Knowing what we know today, we believe we will continue to deliver 40%+ YoY topline (Adjusted Revenue) growth for at least the next couple of years,&#8221; Goyal said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Food delivery app Zomato has finally turned profitable, reporting a consolidated net profit of Rs 2 crore for the quarter ended June 2023. Great surge in revenue It reported a loss of Rs 189 crore in the quarter ended March. However, revenue from operations stood at Rs 2,416 crore, up nearly 71% YoY against Rs [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1261720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[671],"class_list":["post-1261712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-zomato"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>After 15 Years, Zomato Posts 1st Ever Profit: Rs 2 Crore Profitn Against Rs 2416 Crore Revenues! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/after-15-years-zomato-posts-1st-ever-profit-rs-2-crore-profitn-against-rs-2416-crore-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"After 15 Years, Zomato Posts 1st Ever Profit: Rs 2 Crore Profitn Against Rs 2416 Crore Revenues! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Food delivery app Zomato has finally turned profitable, reporting a consolidated net profit of Rs 2 crore for the quarter ended June 2023. 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