Published: 02nd July 2024
By: Value Research
Zomato’s first taste of profitability in FY24 has sparked euphoria on D-Street. The stock has rallied over 2x in the past year! But there’s more to this optimism.
Zomato dominates in food delivery with healthy profits. But it's the rapid growth of its quick commerce ventures that's turning heads.
Its quick commerce bets, Blinkit and Hyperpure, contributed 30% to Zomato’s gross order value in FY24. And it is ready to spend more on these ventures.
Blinkit has seen a 10x revenue growth between FY22-24 and Zomato is aiming to grow it by 60% in FY25!
For Hyperpure, which supplies restaurant essentials, Zomato is planning for a 40% revenue increase in the medium-term by making it an organised player.
Zomato’s growth engine is up-and-running, but you must read between the lines. The truth of its reported profitability & other risks may surprise you. Read our story from the link below.