Zomato’s consolidated net profit dropped by 30% to INR 176 Cr in the September quarter of FY25, down from INR 253 Cr in the June quarter, partly due to increased expenses.
Zomato food delivery GOV rises 5% to INR 9,690 cr
Meanwhile, the food tech giant, which has been steadily increasing its profit after tax (PAT) since Q1 FY24, saw a drop in Q2. Despite this, its operating revenue grew over 14% to INR 4,799 Cr in Q2 from INR 4,206 Cr in Q1 FY25.
Continue Exploring: Zomato allots shares worth INR 53 Cr under ESOPs ahead of Q2 earnings
On a year-on-year basis, Zomato’s operating revenue increased by 68.5% from INR 2,848 Cr in the September quarter last fiscal, while PAT jumped 389% from INR 36 Cr. Zomato continued to grow across its verticals, with food delivery GOV rising 5% to INR 9,690 Cr in Q2 FY25 from INR 9,264 Cr in the June quarter. Quick commerce GOV increased 25% quarter-on-quarter to INR 6,132 Cr.
With the company’s increased focus on its “going out” business, this segment saw the largest jump, increasing by 46% quarter-on-quarter to INR 1,849 Cr.
Zomato approves 19.66 lakh equity shares to employees
Furthermore, Zomato granted nearly 20 lakh equity shares to eligible employees under various employee stock option plans (ESOPs), ahead of its Q2 FY25 earnings announcement for the quarter ending September 2024, on Tuesday, October 22.
In an exchange filing, Zomato, led by Deepinder Goyal, stated its board has approved the allotment of 19.66 lakh equity shares, each with a face value of INR 1, as fully paid-up. This follows the exercise of 13.17 lakh vested options by identified employees of the company and its subsidiaries.
Continue Exploring: Varun Beverages achieves 24% revenue growth, 22% PAT surge in Q3CY24
The company allocated 6.49 lakh equity shares under Zomato ESOP Plan 2018, 3.12 lakh shares under ESOP Plan 2021, and 10.04 lakh shares under ESOP Plan 2022. With this new allotment, Zomato’s issued, subscribed, and paid-up equity share capital has increased to INR 883.6 Cr from INR 883.4 Cr.
