The big gun in food delivery, Zomato, rallied 12 per cent after it posted strong Q1 numbers. At 12:23 pm, Zomato was trading 12.34 per cent higher at Rs 263. During the day's trade, the stock touched an intraday high of Rs 278 and a low of Rs 243.
Zomato shares have seen tremendous action over the last one year, zooming 206 per cent. It has moved up nearly 109 per cent since the beginning of this calendar year, 81 per cent in the last six months, and about 25 per cent in the last one month.
Food delivery firm Zomato, in an update for the quarterly April to June, Q1 FY25, has mentioned posting a net profit of Rs 253 crore, which is 126 times from Rs 2 crore in the same quarter last year.
The Deepinder Goyal-led firm turned in a 74% year-over-year growth in revenues at Rs 4,206 crore for Q1 FY25.
Gross order value of Zomato surged 27 per cent to Rs 9,264 crore for Q1 of 2024-25. Zomato's another quick commerce venture, Blinkit surged its GOV by 130% at Rs 4,923 crore versus last year.
Goyal referred to the potential of their "going out" offering, building from its dining out services into movies, sports ticketing, live performances, shopping and staycations. Some of these categories have already been launched.
Provided these ideas are implemented well, going out can become Zomato's third big B2C business, he added.
The company further intends to have 1,000 Blinkit stores by March 2025 and further ramp up the number of stores to 2,000 at the end of 2026. This would concentrate in the top-10 cities while maintaining profitability.
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