Zomato Ltd reported a remarkable 388.8% increase in net profit, reaching ₹176 crore in Q2 FY25, up from ₹36 crore last year. Revenue soared by 68.5% to ₹4,799 crore.
The company's EBITDA improved to ₹226 crore, a significant turnaround from a loss of ₹47 crore in the same quarter last year. Zomato plans to raise ₹8,500 crore through a Qualified Institutions Placement (QIP) to boost its cash reserves, which have dropped to ₹10,800 crore from ₹14,400 crore since its IPO in July 2021. Gross Order Value (GOV) grew 55% YoY, with food delivery increasing by 21% and quick commerce rising by 122%.