Zomato Q1 results: Profit jumps to

Zomato Q1 results: Online food delivery giant Zomato reported multifold year-on-year growth in its consolidated net profit to ₹253 crore for the quarter ended June 30, 2024. The company’s net profit jumped 126.5 times in the April-June quarter (Q1), compared to the year ago period. This marks the fifth straight quarter of the food aggregator’s earnings coming in the green. Zomato’s revenue rose 74 per cent year-on-year to ₹4,206 crore during the same period. 
During the same quarter last year, Zomato posted a net profit for the first time of ₹2 crore and revenue of ₹2,416 crore. 
Zomoto’s stock price has surged in the past year owing to rise in profitability in its core business and the fast growth of its quick commerce arm Blinkit. 
The company’s stock price has jumped 174 per cent over the past one year. It is currently trading at a P/E ratio of about 148 times.