Mumbai17 minutes ago
- Copy link
Deepinder made Foodibe in 2008, then changed the name to Jomato, now its name is Econal.
The shares of online food delivery company Jomato (Internal) are seeing a rise of 6% on Thursday. The company’s stock has jumped at Rs 13 to ₹ 259. The stock has climbed more than 12% in the last 5 days.
Jomato shares are believed to be the reason for the by rating of global brokerage firm Morgan Stanley. The firm has kept the target price of Zomato ₹ 320, which looks at 33% from the current level.
Brokerage has described the company’s food delivery and the top pick of Quick Commerce sector. For this, the company’s leadership, strong balance sheet and efficient cost structure have been considered as the reason.
Jomato’s share climbed 22% in 6 months
Jomato’s stock has given it 13% in a week and 22% in 6 months. In the last one month, Jomato has given 8% return and 23% in a year. The company’s market cap is Rs 2.35 lakh crore.
Jomato earned by 63% in a year
Jomato released the fourth quarter results on 1 May. The company has earned a total of Rs 6,201 crore in the fourth quarter (Q4FY25) of FY 2024-25. This is 63% higher than last year. The company earned Rs 3,797 crore in the same quarter of last year.
Out of the total earnings, if the expenses of the employees and taxes of the employees are removed, then the company survives Rs 39 crore as a net profit. It is reduced by 77.71% on the annual base (January-March of 2024). At the same time, it has decreased by 33.90% compared to the previous quarter i.e. October-December.
Revenue increased by 64% to ₹ 5,833 crore
In the fourth quarter (Q4Fy25), Jomato generated a revenue of Rs 5,833 crore (by selling product-service). It has increased by 63.76% compared to last year’s January-March. In January-March 2024, the company generated a revenue of Rs 3,562 crore.
Jomato shut down delivery service in 15 minutes
Jomato (E.N.) has closed Quick delivery service in 15 minutes. This feature was launched four months ago. It was introduced in metro city like Bengaluru, Gurugram, Hyderabad, Mumbai with heavy advertisement. Zomato Quick used to give users a ready-to-eat food option within 15 minutes within a radius of 2 km.
Deepinder made Foodibe in 2008
- Deepinder Goyal and Pankaj Chadha together launched their food directory website called Foodibe in 2008. In just nine months, Foodibay became the largest restaurant directory in Delhi NCR.
- After two years in 2010, the company was renamed to Jomato. Soon after its success in Delhi-NCR, the company started spreading branches in cities like Pune, Ahmedabad, Bangalore, Chennai and Hyderabad.
- By 2012, Jomato started expanding abroad by increasing its services in Sri Lanka, UAE, Qatar, South Africa, UK and Philippines. In 2013, New Zealand, Türkiye and Brazil were added to this list.
- Jomato is the country’s first food-tech unicorn. Startups with more than 1 billion dollars are called Unicorn. Jomato first recorded a profit of Rs 2 crore in the first quarter of Financial Year 2024.
- Jomato is a technology platform that connects customers, restaurant partners and delivery partners. In addition to food delivery, Jomato founder Deepinder Goyal bought a blinkit in August 2022 for grocery delivery.
Zomato parent company news
Eternal stock rally
Morgan Stanley top pick Eternal
Eternal share target price
Eternal stock analysis 2025
Zomato share latest news
Eternal share price today
Eternal stock forecast
Eternal share price BSE
Source link
[ad_3]
