Food delivery firm recorded a first-time profit of Rs 2 crore in the first quarter of FY24, from a loss of Rs 186 crore in the same quarter last year. Operating revenue rose 71% compared to last year, helped by massive growth in Hyperpure.
Revenue from operations was up Rs 2,416 crore from Rs 1,414 crore in the June quarter of FY23. Hyperpure—Zomato’s business-to-business supplies vertical—rose 126% to Rs 617 crore from Rs 273 crore last year.
The firm’s total expenses rose 48% to Rs 2,612 crore from Rs 1,768 crore last year, with delivery and related charges up 42%.
Zomato’s quick commerce segment Blinkit posted a revenue of Rs 384 crore. The Deepinder Goyal-led firm acquired the grocery delivery company for Rs 4,447 crore in June last year.
Zomato’s shares on Thursday ended 1.65% higher at Rs 86.45 apiece.
(This is a developing story)
Edited by Akanksha Sarma
