Zomato zooms 16% after multi-fold jump in profit; brokerages give a thumbs up

Zomato‘s share price surged over 16% to a record high of Rs 261 after the company’s net profit for the June quarter of the current financial year (Q1FY25) grew multi-fold to Rs 253 crore, compared to Rs 2 crore in Q1FY24.

Sequentially, the food aggregator net profit increased by 44.5% from Rs 175 crore in the preceding quarter. Zomato’s revenue from operations rose 74% year-on-year to Rs 4,206 crore in Q1FY25, up from Rs 3,562 crore in the previous quarter, marking a 19.2% increase.