Zomato Aims for Rs 10,000 Crore Profit in 3 Years - Are You Considering Investment?
Zomato's first-ever quarterly net profit of Rs 2 crore, declared on August 3, 2023, has triggered a surge in the company's share value.
Zomato's first-ever quarterly net profit of Rs 2 crore, declared on August 3, 2023, has triggered a surge in the company's share value. The achievement comes ahead of expectations, as the company successfully turned around from a net loss of Rs 186 crore in the same quarter last year. Additionally, Zomato's revenue from operations soared to Rs 2,416 crore, a substantial increase from Rs 1,414 crore in the corresponding period of the previous fiscal.
Following the announcement of the first-quarter results, Zomato's shares hit a 52-week high of Rs 102.85 on the Bombay Stock Exchange (BSE). Currently, the share price remains strong, trading at Rs 97.66.
Deepinder Goyal, the Founder and CEO of Zomato, is brimming with enthusiasm after the upbeat quarterly performance. Goyal expressed the company's ambitious vision to achieve a staggering Rs 10,000 crore profit in the next three years. The company's transformation from a loss-making entity to a profitable venture has ignited optimism and confidence in its growth trajectory.
Zomato's strong financial results reflect its successful strategies and market positioning, propelling it towards sustained profitability and ambitious future goals. The company's rapid rise in both revenue and profits demonstrates its resilience and adaptability in the ever-evolving food delivery and restaurant industry. As it continues to innovate and expand its offerings, Zomato remains a force to be reckoned with in the competitive landscape of online food delivery platforms.
Disclaimer: The information provided in BizzBuzz News is solely for informational purposes. Readers are advised to conduct their research and seek professional financial advice before making any investment decisions.