Zomato Poised For 68% Boost In Operational Revenue In 2022 Quarter

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Zomato Poised For 68% Boost In Operational Revenue In 2022 Quarter

| Updated: February 9, 2023 18:17

As the October-December 2022 quarter results for the digital company Zomato approach, expectations are high to see if the meal delivery platform will follow in the footsteps of competitors like Paytm who achieved operating profitability in Q3. According to various brokerages, Zomato is predicted to experience a 68% increase in operational revenue YoY. However, losses are expected to worsen.

Despite this, Zomato received a “Buy” rating from international brokerage CLSA with a target price of Rs 70 per share, boosting confidence in the company. This was reflected in the stock which saw a 3.3% increase to Rs 56.10 per share on the National Stock Exchange (NSE) as of 10:15 am.

Kotak Institutional Equities predicts that the increase in deliveries and gross merchandise value will result in Zomato’s revenue from operations increasing by 68% YoY and 12.6% sequentially to Rs 1,871 crore. Despite this, the integration costs of Blinkit are expected to result in the net loss increasing from Rs 251 crore to Rs 500 crore.

Co-Founder Deepinder Goyal’s recent comments have sparked interest among investors. On February 7, he tweeted congratulations to Vijay Shekhar Sharma for attaining operating profitability earlier than expected, saying “Sorry, a bit late to the party – was so busy working on our own profitability ;-)”.

Despite a 7% decrease in stock value so far in 2023, Zomato remains optimistic, having recently cleared up confusion surrounding the discontinuation of the 10-minute food delivery service, Zomato Instant, by stating it will simply be “rebranded”. Despite a decrease in market capitalisation of more than half since the company’s IPO in 2021, the future looks bright for Zomato.

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