For the first time ever, food and grocery delivery platform Zomato turned profitable in the first quarter of FY24. The company reported a profit of Rs 2 crore for the quarter ending June 2023 against a loss of ₹186 crore Y-O-Y.
Once the quarterly results came out, social media was filled with congratulatory messages, memes and jokes. Zomato's CEO and Founder Deepinder Goyal found one particular tweet amusing. A twitter user had tweeted, “On lighter note: 2 crore mujse le leta bhai, etna ghar ghar jaake khana deliver karne ki kya zaroorat thi" (On a lighter note: You could have borrowed Rs 2 crore from me. What was the need to go from house to house delivering orders?)
Impressed by the humour Deepinder Goyal replied, "Tweet of the day. ROFL!”
Meanwhile many industry leaders including Paytm CEO Vijay Shekhar Sharma congratulated Zomato for hitting a milestone. MoS Rajeev Chandrasekhar too appreciated the company and called Zomato a bright beacon for all investors and startups.
Also Read: Zomato Q1 results: Food delivery platform's revenue rises 70%, turns profitable for the first time
Its not just the industry and government big-shots who acknowledged Zomato's achievement. Investors too seemed to be impressed with the quarterly results. Zomato's shares zoomed over 14% in the morning trade on Friday.
The stock jumped 14.11% to reach its 52-week high of Rs 98.39. Zomato shares listed on the bourses in July 2021 at ₹115.00 against issue price of ₹76.