Deepinder Goyal's company stock doubles in 2024: Company announced skyrocketing quarterly results and PAT jumped 12,550 per cent!
The stock's performance in 2024 has been exceptional, delivering multibagger returns of over 100 per cent.
Zomato and Swiggy have significantly transformed India's food ordering landscape by offering extensive restaurant choices and convenient delivery services. Both platforms have contributed to the industry's growth. Zomato, in particular, has focused on enhancing the overall food experience beyond delivery by providing detailed restaurant information, user reviews, and a variety of dining options. This comprehensive approach, combined with its user-friendly interface, has positioned Zomato as a prominent player in the market.
About Zomato Ltd
Zomato Ltd., founded in 2010, is a leading online food service platform focusing on food delivery, dining-out services, and loyalty programs. Operating in three primary segments - food delivery, dining out, and Hyperpure - Zomato aims to expand its store count. The company, led by CEO Deepinder Goyal, emphasises a technology-first approach, leveraging AI, machine learning and data science to drive innovation for customers, delivery partners and restaurant partners.
Today, Zomato Ltd gained 19 per cent and made a fresh 52-week high of Rs 273.70 per share from its previous closing of Rs 234.10 with a spurt in volume by more than 10 times on BSE. The company has a market cap of over Rs 2.30 lakh crore.
The company's stock price surged dramatically following the release of its Q1FY25 results, which showcased an exceptional performance. Net sales skyrocketed by 74.1 per cent to Rs 4,206 crore, while operating profit soared by 210.5 per cent to Rs 413 crore. Most notably, net profit witnessed a staggering 12,550 per cent increase to Rs 253 crore compared to the same period last year. This stellar quarterly performance built upon the company's FY24 achievements, where net sales grew by 71.13 per cent to Rs 12,114 crore, operating profit turned around from a loss of Rs 528 crore to a profit of Rs 889 crore, and net profit recovered from a loss of Rs 970 crore to Rs 351 crore.
The stock's performance in 2024 has been exceptional, delivering multibagger returns of over 100 per cent. This has significantly boosted Deepinder Goyal's wealth, as his 4.19 per cent stake is now valued at approximately Rs 9,400 crore. The stock's performance in 2024 has been exceptional, delivering multibagger returns. This has significantly boosted Deepinder Goyal's wealth, as his 4.19% stake is now valued at approximately Rs 9,400 crore.
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Disclaimer: The article is for informational purposes only and not investment advice.
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