Zomato turns profitable after 15 years
Ever since Zomato reported its first-ever quarterly net profit of Rs 2 crore on Thursday (August 3, 2023), the company’s shares have seen a steady rise. The company achieved its target of profit one quarter earlier than expected, reporting profits from a net loss of Rs 186 crore in the corresponding quarter last year.
The company’s revenue from operations also jumped to Rs 2,416 crore from Rs 1,414 crore in the same quarter last fiscal.