.png){kind=small}
Zomato's net profit zoomed nearly three-fold to Rs 138 crore in the third quarter of the current financial year, helped by a 69% jump in revenue and a sharp slowdown in delivery costs.
The food delivery platform's revenue from operations rose to Rs 3,288 crore in Q3, up from Rs 1,949 crore in the same period last year. This was driven by a 27% growth in the gross order value (GOV) to Rs 12,422 crore.
Zomato's adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and exceptional items) margin expanded to 3.7% in Q3, compared to 1.2% in the previous quarter. This was primarily due to a 230 basis point reduction in delivery costs as a percentage of GOV, from 27.8% to 25.5%.
The company's marketing expenses also grew at a slower pace of 7% year-on-year to Rs 444 crore in Q3. This, coupled with higher ad monetization and platform fees, helped improve its margins.
Zomato's revenue and profitability have been on a growth trajectory in recent quarters, as the online food delivery market in India continues to boom. The company is now well-positioned to benefit from this growth, thanks to its strong brand presence, extensive network of restaurants, and loyal customer base.
Comentários