Zomato posts first quarterly profit since 2021 listing

Zomato reported its first quarterly profit on Thursday, helped by a tax gain and strong orders on its food delivery and quick commerce platforms.

The company reported a profit of 20 million rupees ($241,861.37) for the quarter ended June 30.

Zomato, which also runs grocery delivery service Blinkit, said consolidated revenue from operations rose 70.9% to 24.16 billion rupees in the first quarter.

That beat analysts average estimate of 22.86 billion rupees, according to Refinitiv IBES data.