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Zomato Q2 PAT soars to Rs 176 cr

22-Oct-24 17:55 Hrs IST

Profit before tax (PBT) spurted to Rs 237 crore in Q2 FY25 as compared with Rs 21 crore posted in corresponding quarter last year.

Adjusted EBITDA stood at Rs 330 crore during the quarter , registering the growth of 289% as compared with Rs 41 crore in Q2 FY24.

Gross order value (GOV) growth across the company's B2C businesses improved to 55% YoY to Rs 17,670 crore in Q2 FY25. On a like-for-like basis (excluding the impact of the acquisition of Paytm's entertainment ticketing business) GOV growth was 53% YoY.

In food delivery business, GOV jumped 21.43% YoY to Rs 9,690 crore. Average monthly transacting customers increased 12.5% to 20.7 million in Q2 FY25 as against 18.4 million in Q2 FY24.

Revenue from quick commerce surged 129% to Rs 1,156 crore during the quarter as compared with Rs 505 crore posted in corresponding quarter last year. GOV jumped 25% YoY to Rs 6,132 crore in Q2 FY25.

In going-out business, revenue soared 214% to Rs 154 crore in Q2 Fy25 as compared with Rs 49 crore in Q2 FY24. GOV surged 171.11% to Rs 1,849 crore in Q2 FY25 as compared with Rs 682 crore in Q2 FY24.

The company's B2B business, Hyperpure revenue grew 98% YoY in Q2 FY25.

Meanwhile, the company's board has approved to raise funds worth Rs 8,500 crore by issue of equity shares through qualified institutional placement (QIP).

Further, the company's board has also approved to subscribe up to 600 equity shares of Byondnxt Smart Home for a total purchase consideration of Rs 6,000 at price of Rs 10 per share.

Byondnxt is a B2C business which designs and manufactures innovative kitchen appliances and was set up by Eshwar Vikas, the founder of Mukunda Food, where Zomato owns around 16% stake on a fully diluted basis pursuant to its investment about three years ago (in January 2022). Mukunda on the other hand is a B2B business offering smart kitchen equipment to B2B customers such as restaurants.

Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.

The counter fell 3.58% to settle at Rs 256.20 on the BSE.