Zomato posts Rs 176 cr profit for Q2, revenue at Rs 4,799 cr

New Delhi: Online food delivery firm Zomato Ltd on Tuesday reported a consolidated net profit of Rs 176 crore in the second quarter ended on September 30, 2024.

The board of the company, which had posted a consolidated net profit of Rs 36 crore in the same quarter last fiscal, has also approved the raising of Rs 8,500 crore through qualified institutional placement of equity shares, Zomato Ltd said in a regulatory filing.

Consolidated revenue from operations stood at Rs 4,799 crore. It was at Rs 2,848 crore in the year-ago period, it added. Total expenses were at Rs 4,783 crore in the quarter under review against Rs 3,039 crore in the corresponding period a year ago, it said.

Zomato said its results for the quarter and half year ended September 30, 2024 are not comparable with other quarters and half year results due to the acquisition of Orbgen Technologies Private Ltd (OTPL') and Wasteland Entertainment Pvt Ltd (WEPL) holding the 'movies ticketing' business and events business respectively from One 97 Communications Ltd (Paytm) in August this year.