After delivering in Q1, all Zomato needs is to sustain the good run
SummaryZomato had earlier guided that it would turn net profit by Q4FY24. While it is true that Zomato has seen improvement across key operating and financial parameters, a tax adjustment helped it report a net profit of ₹2 crore in Q1.
Zomato Ltd clocking its first ever consolidated net profit in the June quarter (Q1FY24) is a milestone. In response, shares of the online food delivery company jumped by 10% on Friday.