Zomato shares soared by 5.86% to an all-time high of ₹280 per share on the BSE during early trading on Monday, August 19. This surge followed the company’s launch of a new “Group Ordering” feature over the weekend.
According to a LinkedIn post by Zomato CEO Deepinder Goyal, users can now share a link with friends, allowing everyone to add items to a cart simultaneously. This new feature aims to simplify group orders and avoid the hassle of passing phones around to collect everyone’s choices. The company is gradually making this feature available to its customers.
In its recent Q1 FY25 results, Zomato reported a significant increase in its consolidated net profit, reaching ₹253 crore for the April-June quarter of 2024-25. This is a sharp rise from ₹2 crore reported in the same period last year. The company’s revenue from operations also saw a substantial jump of over 74%, climbing to ₹4,206 crore compared to ₹2,416 crore in the previous year’s first quarter.
Total expenses for Zomato during this quarter increased to ₹4,203 crore, up from ₹2,612 crore the previous year. The company’s operations span several segments, including food ordering and delivery, Hyperpure Supplies (B2B), its quick commerce service Blinkit, the going out segment, and other minor areas.
Zomato’s Chief Financial Officer, Akshant Goyal, highlighted that the gross order value (GOV) for its B2C businesses, which include food delivery, quick commerce, and going out, surged 53% year-on-year and 14% quarter-on-quarter, reaching ₹15,455 crore.
