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 :
-
Adani Bribery Case: KTR Demands Telangana Govt To Cancel All Contracts
![Adani Bribery Case: KTR Demands Telangana Govt To Cancel All Contracts]()
Hyderabad, Nov 22 (Maxim News): BRS working president KT Rama Rao demanded the Congress government in Telangana to cancel its agreements with the Adani Group, worth Rs 12,400 crore, and return the Rs 100 crore donation made by the group for the Skill University. The demand follows charges of corruption and bribery against industrialist Gautam Adani…
-
Raja Singh Sparks Controversy Again: Advises Ayyappa Devotees’ To Visit Vavar Mosque
![Raja Singh Sparks Controversy Again: Advises Ayyappa Devotees’ To Visit Vavar Mosque]()
Hyderabad, Nov 22 (Maxim News): Goshamahal BJP MLA Raja Singh, sparked controversy after advising Ayyappa Swamy devotees not to visit the Vavar mosque of Hazrath Vavarswami Darga and mosque—popularly known as Vavar mosque—when traveling to the Sabarimala Temple in Kerala.
-
Telangana: DCA Cracks Down On Fake Drug Claims For Critical Illness
![Telangana: DCA Cracks Down On Fake Drug Claims For Critical Illness]()
Hyderabad, Nov 22 (Maxim News): The Drug Control Administration (DCA), Telangana State seized several drugs that were circulating in the market with misleading claims of treating Cardiovascular disorders, blood pressure, Ophthalmic diseases/disorders, fevers, and diabetes, which is in contravention of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954, a DCA press release said.
-
Three Arrested For Practicing Allopathy In Telangana
![Three Arrested For Practicing Allopathy In Telangana]()
Hyderabad, Nov 22 (Maxim News): The drug inspectors of Telangana State Drug Control Administration (TSDCA) conducted raids on the premises of three quacks (unqualified medical practitioners), who were practicing allopathy, at different locations in Telangana State and seized substantial stocks of medicines worth Rs. 83,000, stored illegally for sale.
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
