Zomato Q2 Results: ₹176 crore profit for Sept quarter, revenue at ₹4,766 crore

Food delivery aggregator Zomato Ltd. has reported its September quarter results. The company reported a net profit for the fifth quarter in a row. Zomato reported a net profit of ₹176 crore for the July-September period. The figure though is lower compared to Jefferies' estimates of ₹245.3 crore. The company had reported a net profit of ₹36 crore during the base quarter. Revenue on an adjusted basis for the quarter also increased by 69% from the same quarter last year to ₹4,799 crore. Analysts at Jefferies were projecting the revenue figure of ₹5,042.7 crore.

Zomato's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was a positive ₹226 crore compared to an EBITDA loss of ₹47 crore last year but was lower than the Jefferies estimate of ₹318.5 crore. EBITDA margin for the quarter stood at 4.7%. On an Adjusted basis, EBITDA stood at ₹330 crore, from ₹41 crore last year.

The board of the company, which had posted a consolidated net profit of ₹36 crore in the same quarter last fiscal, has also approved the raising of ₹8,500 crore through qualified institutional placement of equity shares, Zomato Ltd said in a regulatory filing.

(Source: PTI)