Key Points
Food delivery company Zomato's third-quarter earnings beat the estimates on the back of robust growth in food delivery and hyperpure businesses...
The company expects the segment's GOV to continue growing at over 20% YoY, and perhaps accelerate further if it sees more than expected market share gains and the revival in macro consumer demand...
The food delivery revenues increased 29% YoY to Rs 2,025 crore and quick commerce revenues jumped 114% YoY to Rs 859 crore...
In Q3FY24, close to 70% of the stores were contribution-positive and 20% of these were operating at a 5%+ contribution margin resulting in a growing pool of contribution profit.. Hyperpure revenue soared 104% YoY to Rs 859 crore, driven by growth in both the core restaurant supplies business and the relatively newer quick commerce opportunity...
The monthly active restaurant base on Zomato has grown by 20%+ YoY in Q3FY24, led both by new restaurants opening up and the coverage of existing restaurants increasing.. On Thursday, Zomato shares closed 1.14% higher at Rs 142 on NSE...
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