Zomato Shares on Sale: Ant Group's Exit Plan.!
Zomato strengthened its position through the acquisition of quick-commerce company Blinkit in 2022. It is anticipated that Blinkit will achieve EBITDA positivity in the next financial year, and investors are optimistic about the growth potential it brings to Zomato. In the recent quarterly report for the current financial year, zomato recorded a net profit of Rs 138 crore, a significant improvement from the net loss of Rs 347 crore in the same quarter of the previous financial year.
The company's quarterly results revealed impressive figures, with operational revenue reaching Rs 3,288 crore, compared to Rs 1,948 crore in the same period a year ago. Total expenses stood at Rs 3,383 crore, up from Rs 2,485 crore in the previous year. Zomato's MD and CEO, Deepinder Goyal, highlighted a 25 percent annual growth in the food delivery gross order value in the third quarter in a letter to investors.