Zomato’s Q3 profit surges 283% to Rs 138 Cr
- ByStartupStory | February 8, 2024
Online food delivery app Zomato is set to unveil its financial results on February 8 for the quarter ending December 31, 2023. Analysts predict strong performance driven by festive demand, the Cricket World Cup, and increased Gold program orders.
In the upcoming quarter, Zomato’s quick commerce division is expected to see robust growth, with investors closely monitoring growth projections and Blinkit developments. Zomato reported significant profit growth in the second quarter, reaching ₹36 crore, while revenue surged 71% year-on-year to ₹2,848 crore.
According to Kotak Institutional Equities, revenue is projected to grow by 61% year-on-year, driven by various factors including food delivery, Hyperpure, and Blinkit revenues. The firm expects significant growth in food delivery GMV and an expansion in take rates.
Zomato increased its platform fee for food delivery services by 33%, and the convenience fee also saw a hike, contributing to a positive impact on adjusted EBITDA. Elara Securities predicts a rise in revenue and take rate due to the fee adjustments.
JM Financial forecasts a sequential GOV growth of 7% in food delivery, supported by increased MTUs, ordering frequency, and AOVs. The Cricket World Cup and Gold program orders are expected to further boost metrics.
The reported revenue growth in the food delivery segment is expected to outpace GOV growth, driven by improved take rates and restaurant monetization, as stated by JM Financial.
Online food delivery app Zomato is set to unveil its financial results on February 8 for the quarter ending December 31, 2023. Analysts predict strong performance driven by festive demand, the Cricket World Cup, and increased Gold program orders.
In the upcoming quarter, Zomato’s quick commerce division is expected to see robust growth, with investors closely monitoring growth projections and Blinkit developments. Zomato reported significant profit growth in the second quarter, reaching ₹36 crore, while revenue surged 71% year-on-year to ₹2,848 crore.
According to Kotak Institutional Equities, revenue is projected to grow by 61% year-on-year, driven by various factors including food delivery, Hyperpure, and Blinkit revenues. The firm expects significant growth in food delivery GMV and an expansion in take rates.
Zomato increased its platform fee for food delivery services by 33%, and the convenience fee also saw a hike, contributing to a positive impact on adjusted EBITDA. Elara Securities predicts a rise in revenue and take rate due to the fee adjustments.
JM Financial forecasts a sequential GOV growth of 7% in food delivery, supported by increased MTUs, ordering frequency, and AOVs. The Cricket World Cup and Gold program orders are expected to further boost metrics.
The reported revenue growth in the food delivery segment is expected to outpace GOV growth, driven by improved take rates and restaurant monetization, as stated by JM Financial.
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