Zomato Q4 Results: Profit at Rs 175 crore; growth driven by both food delivery and quick commerce

Food delivery platform Zomato on Monday announced its fourth quarter earnings for the financial year 2023-24 with profit at Rs 175 crore in comparison to a loss of Rs 189 crore during the corresponding quarter of FY23. The company recorded revenue from operations at Rs 3562 crore, up 73.2 per cent on-year as against Rs 2056 crore during the same period last year. Zomato’s food delivery GOV grew by 28 per cent on-year, driven by 5 per cent YoY AOV growth and 23 per cent YoY order growth.

Zomato said that the company’s year-on-year topline growth accelerated to 61 per cent and continues to trend above the stated outlook of 40 per cent. It added that the growth was driven by robust growth in both food delivery and quick commerce.