Here we are going to talk about Zomato Ltd as they recently posted their second consecutive quarter of profits. The public is surfing the internet to know more about its second consecutive quarter of reported earnings and not only that, they also like to know the recent update about it. So, for our readers, we have provided information on its second consecutive quarter of reported earnings in this article. Not only that, we will also provide details on recent updates as the public searches for them on the Internet. So, keep reading the article to know more.
Zomato posts profit of Rs 36 crore
Zomato Ltd. announced earnings for the second consecutive quarter. The company’s quick commerce and food ordering divisions benefited from high holiday season spending. After suffering a loss of Rs 251 crore during the same period last year, the food aggregator announced a net profit of Rs 36 crore for the three months ended September 30. For the first time, Zomato declared a profit of Rs 2 crore for the June Quarter. The company’s operating income increased 71% to $2,848 million as a result of an increase in order volume in its food ordering and quick trade divisions.
“Healthy growth across all our businesses fueled the growth momentum we saw in Q1FY24 through Q2FY24,” Zomato Founder and CEO Deepinder Goyal stated in the letter to shareholders. of the company and in the results that “the gross value of orders in our B2C businesses of food delivery, quick trade and outlets grew 13% quarter-on-quarter and 47% year-on-year. year.” The total amount of all food delivery orders placed on the site is known as the gross order value or GOV. The food delivery government is recovering very well from the drop in demand we saw in the two final quarters of FY23, up 9% from the June quarter and up 20% from a year ago. With a 29% increase in order volume over the previous June quarter, Quick Commerce rebounded .
Growth in order quantities drove most of the growth in food delivery, with average order value remaining essentially constant. The excellent performance of the equipment, combined with a notable increase in demand, caused order quantities to increase significantly. Because fewer delivery partners are available during the rainy season, order volume growth is typically significantly impacted during this quarter. But thanks to more effective execution across the board this year, we were able to improve on that. The growing acceptance of our Gold program, which continues to encourage members to order more frequently, was another important factor in GOV’s growth during the quarter, according to Rakesh Ranjan, CEO of Zomato’s food ordering and delivery division. .
Categories: Biography
Source: vtt.edu.vn