Strong growth outlook along with a broad-based delivery

Company
11 Mar 2024
5 Min read 
  • Zomato reported strong growth in its 3QFY24 results, with revenue up 15% QoQ and 69% YoY.
  •  The growth was driven by Blinkit and higher take rates in the food delivery business.
  •  Near-term moderation is expected in the food delivery business, but overall growth outlook remains strong.
  •  Zomato's long-term revenue growth guidance is 40%+ YoY, with increased growth expectations for the near term.
  •  The company expects to achieve break-even in Blinkit by 1QFY25.
  •  Zomato's EBITDA margin came in ahead of estimates at 5.3% and is expected to reach 4.5% in FY24 and 10.0% in FY25.
  •  The company's valuation suggests an 18% potential upside, with a target price of INR170.
  •  Zomato's financials and valuations show positive growth and profitability trends.
  •  The company's cash flow and investment activities are also positive, with a strong closing cash balance.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority