Zomato's Deepinder Goyal joins elite list of Indian billionaires
Jul 15, 2024, 15:29 IST
Food delivery behemoth Zomato's co-founder and CEO Deepinder Goyal is the latest entrant into the elite club of Indian billionaires after the stock surged around 2.22% at Rs 227.40 during trade on Monday. The stock has been on an upward journey, inching up by 70.46% during the last six months, and a staggering 183.72% over the previous year. Zomato's stock also touched its all-time high of Rs 232 today, propelling the company's total market capitalization to over Rs 2 lakh crore.
Notably, Goyal holds 4.2% stake holding, or about 36.95 crore shares in Zomato, which went public in July 2021. His share has surged by over 300% in just the last 2 years. Recently, Zomato hiked its platform fee from Rs 5 to Rs 6 in metros such as Delhi and Bengaluru.
As of 31st March 2024, the company's total revenue from its B2C businesses, which includes food delivery, quick commerce (Blinkit) and dining out grew 56% on a year-on-year (YoY) basis to stand at Rs 13,545 crore, up from Rs 8,693 crore in FY23. The company expects over 40% YoY growth in this segment for a couple of years.
first-ever profit of Rs 2 crore in Q1 of FY24.
The company's gross order value (GOV) also registered a stellar rise of 30%, inching up from Rs 26,305 crore in FY23 to Rs 32,224 crore in FY24. The company is also expecting a 20% YoY growth in its gross order value in the years to come. The platform's delivery business also saw a significant rise in its average monthly transacting customers, which went up from 17 million in FY23 to 18.4 million in FY24.
In FY24, the company also generated profit after tax (PAT) worth Rs 351 crore, after reporting losses worth Rs 2,386 crore in FY20, Rs 816 crore in FY21, Rs 1,223 crore in FY22 and Rs 971 crore in FY23. Zomato first broke profits of Rs 2 crore in Q1 FY24.
Zomato's quick commerce business also registered significant growth, with the average monthly transacting customers witnessing a YoY jump of 73%, up from 2.9 million in FY23 to 5.1 million in FY24. The store count also jumped up from 377 to FY23 to 526 to FY24, with the target of crossing over 1,000 stores by March 2025.
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Notably, Goyal holds 4.2% stake holding, or about 36.95 crore shares in Zomato, which went public in July 2021. His share has surged by over 300% in just the last 2 years. Recently, Zomato hiked its platform fee from Rs 5 to Rs 6 in metros such as Delhi and Bengaluru.
Strong financials
As of 31st March 2024, the company's total revenue from its B2C businesses, which includes food delivery, quick commerce (Blinkit) and dining out grew 56% on a year-on-year (YoY) basis to stand at Rs 13,545 crore, up from Rs 8,693 crore in FY23. The company expects over 40% YoY growth in this segment for a couple of years.first-ever profit of Rs 2 crore in Q1 of FY24.
The company's gross order value (GOV) also registered a stellar rise of 30%, inching up from Rs 26,305 crore in FY23 to Rs 32,224 crore in FY24. The company is also expecting a 20% YoY growth in its gross order value in the years to come. The platform's delivery business also saw a significant rise in its average monthly transacting customers, which went up from 17 million in FY23 to 18.4 million in FY24.
In FY24, the company also generated profit after tax (PAT) worth Rs 351 crore, after reporting losses worth Rs 2,386 crore in FY20, Rs 816 crore in FY21, Rs 1,223 crore in FY22 and Rs 971 crore in FY23. Zomato first broke profits of Rs 2 crore in Q1 FY24.
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