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Online food delivery company Zomato has now become a bigger company than Tata Motors and Bajaj Auto. The market cap of the company has reached Rs 2.78 lakh crore, more than these two automakers.
After Thursday (December 19) trading, the market cap of Tata Motors on BSE stood at Rs 2.73 lakh crore, while that of Bajaj Auto stood at Rs 2.50 lakh crore.
Zomato will join Sensex today
After this success, Zomato will also join Sensex today i.e. on 20th December. JSW Steel will be out of this index of top 30 stocks. BSE had announced this only last month.
Gave 130% return in one year, became 27th company in the rack
The surge in Zomato shares in 2024 has more than doubled the wealth of investors. The price of one share of Zomato on December 20, 2023 was Rs 124, which has now reached Rs 286.
Talking about percentage return, it has given a return of 130%. The shares of the company, formed in July 2008, had touched a record level of Rs 304.5 on December 5. The company is at number 27 in market cap.
Zomato shares are trading at Rs 288 with a slight rise at 11:24 am on Friday.
Zomato’s profit increased by 388% in the second quarter
In the July-September quarter of the financial year 2024-25, Zomato’s profit has increased by 388% on an annual basis to Rs 176 crore. The company’s consolidated net profit in the same quarter a year ago was Rs 36 crore.
The company’s revenue in the second quarter increased by 68.50% to Rs 4,799 crore. Revenue in the same quarter a year ago was Rs 2,848 crore.
Deepinder created Foodibay in 2008, then changed the name
- Deepinder Goyal and Pankaj Chadha together launched their food directory website named Foodibay in 2008. In just nine months, FoodieBay became the largest restaurant directory in Delhi NCR.
- After two successful years, in 2010, the company was renamed Zomato. Soon after its success in Delhi-NCR, the company started expanding branches in cities like Pune, Ahmedabad, Bengaluru, Chennai and Hyderabad.
- By 2012, Zomato had begun expanding overseas by expanding its services to Sri Lanka, UAE, Qatar, South Africa, the UK and the Philippines. In 2013, New Zealand, Turkey and Brazil were added to this list.
- Zomato is the country’s first foodtech unicorn. Startups valued at more than $1 billion are called unicorns. For the first time, Zomato had registered a profit of Rs 2 crore in the first quarter of the financial year 2024.
- Zomato is a technology platform that connects customers, restaurant partners and delivery partners. Apart from food delivery, Zomato founder Deepinder Goyal had purchased Blinkit in August 2022 for grocery delivery.
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Read this news also…
Zomato’s Blinkit launches ‘Bistro’: App available on Google Play Store; Company promises delivery of snacks, meals and beverages in 10 minutes
Zomato’s quick-commerce subsidiary Blinkit has launched ‘Bistro’. Through this platform, the company is promising to deliver snacks, meals and beverages within 10 minutes. This is part of Zomato’s strategy to capture the rapidly growing food delivery market.
A day earlier, Zomato’s rival Zepto had unveiled Zepto Café. According to media reports, currently Bistro is available on Google Play Store. There are plans to bring it to Apple App Store also in future.
Click here to read the full news…
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