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After-Q4-earnings-Zomatos-share-price-falls-by-six-percentage-Possibility-of-purchasing-the-stock.php
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<h1 class="post-title mb-30">After Q4 earnings, Zomato's share price falls by 6%. Possibility of purchasing the stock?</h1>
<div class="entry-meta meta-1 font-x-small color-grey text-uppercase"><span class=post-by>By
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<p><mark>In comparison to a loss of ₹188 crore during the same period last year, Zomato recorded a consolidated net profit of ₹175 crore in the fourth quarter of FY24. From the ₹138 crore reported in the December quarter, the net profit increased by 27%.</mark></p>
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<p>After the firm released its Q4 earnings on Tuesday, the price of Zomato's stock dropped by 6% in early trading. On the BSE, Zomato shares dropped as much as 5.98% to ₹182.10 a share.</p>
<p>In the fourth quarter of FY24, Zomato, a meal delivery platform, recorded a consolidated net profit of ₹175 crore, compared to a loss of ₹188 crore in the same time the previous year. Compared to the December quarter's reported ₹138 crore, the net profit increased by 27%.</p>
<p>Zomato's operating revenue in Q4FY24 climbed by 73% YoY to ₹3,562 crore from ₹2,056 crore. Across B2C enterprises, gross order value (GOV) increased in the March quarter, reaching ₹13,536 crore, or 51% YoY.
The firm reported an operational EBITDA of ₹86 crore, which is an improvement from the ₹226 crore loss it had in the same time the previous year.
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<p>In March 2024, Zomato's Blinkit, a rapid commerce division, reached operational EBITDA break-even.
Analysts' optimistic outlook for Zomato shares was upheld, with several increasing their target price due to the company's sustained outperformance against Blinkit.
The following is what analysts had to say about Zomato's Q4 earnings and share price:
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<h5 style="color:red;">Emkay Global Financial Services</h5>
<p>Zomato reported consistent operating performance, with revenue exceeding Emkay Global's projections. However, higher than anticipated ESOP expenses were the cause of the margin shortfall.
The brokerage business has largely maintained its projections for FY26E profits per share (EPS) but reduced FY25E EPS by almost 20% in order to account for Blinkit's slower profitability due to its ambitious retail expansion strategy and increased ESOP expenses.
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<p>Zomato demonstrated stable operational performance, surpassing Emkay Global's forecasted revenue. However, the reason for the margin gap was greater than expected ESOP expenditures.
The brokerage industry has mostly stuck to its estimates for FY26E profits per share (EPS) but cut FY25E EPS by about 20% to reflect Blinkit's slower profitability as a result of its aggressive retail development plan and higher ESOP costs.
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<h5 style="color:red;">Nuvama Institutional Equities</h5>
<p>By end of FY25, Blinkit hopes to increase the number of dark stores from 525 in Q4 of FY24 to 1000. Nuvama Institutional Equities stated that although this would have an effect on short-term profitability, it will solidify Blinkit's position as the undisputed leader in rapid commerce.
Using SOTP, it assigns a $10 billion value to food delivery on Zomato and a $13 billion value on Blinkit. The upgrade resulted from Blinkit's value rising as a result of its unexpectedly rapid development and obvious leadership in rapid commerce.
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<p>Nuvama increased the target price for Zomato shares from ₹180 to ₹245 while keeping a "Buy" recommendation on the stock.</p>
<h5 style="color:red;">Elara Capital</h5>
<p>Zomato's strong moat in the food industry, which could see it post an adjusted EBITDA CAGR of 47% in FY24–26E, and superior execution for Blinkit (market leadership), aided by better customer experience compared to peers (on-time delivery, better product assortments), are the reasons Elara Capital said it still favors Zomato.
Due to stronger growth for Blinkit/Hyperpure, it increased the consolidated revenue expectations for FY25E and FY26E by 22% and 33%, respectively. However, due to reduced EBITDA for Blinkit (whose priority is expansion) and higher ESOP expenses, its consolidated earnings improvement for FY25E and FY26E is only 7% and 3%, respectively.
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<p>The firm upped its target price for Zomato shares to ₹280 from ₹250 and kept its "Buy" recommendation.
Zomato shares were down 4.96% at ₹184.10 a share on the BSE at 9:20 a.m.
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