Zomato shares fall 6% after Q4 results but brokerages hike target price: Should you buy?
Zomato share price fell 6% in early trade on Tuesday after the company announced its Q4 results. Zomato shares declined as much as 5.98% to ₹182.10 apiece on the BSE.
Click Here To Join Us On WhatsApp
The food delivery platform Zomato reported a consolidated net profit of ₹175 crore in the fourth quarter of FY24 as against a loss of ₹188 crore in the same period a year ago. The net profit grew 27% from ₹138 crore posted in the December quarter.
Zomato’s revenue from operations in Q4FY24 increased 73% to ₹3,562 crore from ₹2,056 crore, YoY. The March quarter’s gross order value (GOV) grew across B2C businesses, from 51% YoY to ₹13,536 crore.
Click Here To Join Us On WhatsApp
At the operating level, the company posted an EBITDA of ₹86 crore, an improvement from the loss of ₹226 crore incurred during the same period last year.
Zomato’s quick commerce arm Blinkit achieved operational EBITDA break-even in March 2024.
Click Here To Join Us On WhatsApp
Analysts maintained their bullish view on Zomato shares with some raising target price on the stock led by the continued outperformance of Blinkit.
Here’s what analysts said on Zomato Q4 results and Zomato share price:
Emkay Global Financial Services Zomato posted steady operational results, with revenue ahead of Emkay Global’s estimates whereas the margin miss was due to higher-than-expected ESOP costs. The brokerage firm has mostly retained FY26E earnings per share (EPS) estimates, but lowered FY25E EPS by ~20%, factoring in the slower profitability for Blinkit on the aggressive store addition plan and higher ESOP costs.
Next Story :
-
Trump Launches $500 Billion “Stargate” AI Venture
![Trump Launches $500 Billion “Stargate” AI Venture]()
In a major push to advance artificial intelligence (AI) infrastructure, United States President Donald Trump revealed a $100 billion joint venture called “Stargate” on January 21 (January 22 IST). The initiative, spearheaded by SoftBank Group, OpenAI, and Oracle Corporation, aims to revolutionize AI development in the U.S. with plans to scale the investment to $500…
-
Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection
![Dalit Groom Riding Horse Faces Opposition: Police Step in for Protection]()
In Lavera village of Srinagar block, Ajmer district, a wedding procession proceeded peacefully on January 21 under heavy police protection. Around 400 police personnel were deployed to prevent potential opposition from upper-caste locals, who reportedly objected to the groom riding a horse—an act traditionally viewed as a symbol of status and equality.
-
Beti Bachao Beti Padhao Marks 10 Years of Launch
![Beti Bachao Beti Padhao Marks 10 Years of Launch]()
As India marks the tenth anniversary of the Beti Bachao Beti Padhao (BBBP) initiative, Prime Minister Narendra Modi has hailed the program’s transformative impact on addressing gender disparities and empowering the girl child. Launched on January 22, 2015, the initiative has evolved into a landmark movement for gender equality and girl-child education in India.
-
JEE Mains Exam: 3 Students Denied Entry for Arriving Late
![JEE Mains Exam: 3 Students Denied Entry for Arriving Late]()
The JEE Mains exams, necessary for admissions in prestigious engineering colleges across India, began on Wednesday, attracting thousands of eager students to exam centers nationwide. However, three students at the Ion Digital Zone Exam Center in Visakhapatnam were denied entry for arriving late.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
