Zomato Ltd Reports Outstanding Financial Results for March 2024 Quarter
Zomato Ltd, a leading IT software company, has recently announced its financial results for the quarter ending March 2024. The company has shown an outstanding performance with a score of 33, which is an improvement from the previous quarter's score of 34.
One of the key highlights of the financial results is the significant growth in Profit After Tax (PAT) which has increased by 5837.7% to Rs 175.00 crore compared to the average PAT of the previous four quarters which was at Rs -3.05 crore. This shows a very positive trend in the company's near term profitability.
The company's Net Sales have also seen a steady growth in the last five quarters, with the highest recorded at Rs 3,562.00 crore in the March 2024 quarter. This is a positive sign for the company's revenue generation capabilities.
Zomato Ltd has also shown improvement in its Operating Profit (PBDIT) which has grown each quarter in the last five quarters, with the highest recorded at Rs 86.00 crore in the March 2024 quarter. This indicates a positive trend in the company's operational efficiency.
The company's Profit Before Tax less Other Income (PBT) has also seen a significant growth in the last five quarters, with the highest recorded at Rs -74.00 crore in the March 2024 quarter. This shows a positive trend in the company's near term profitability.
In terms of earnings per share (EPS), Zomato Ltd has shown an increase to Rs 0.20 in the last five quarters, indicating a higher profitability and value creation for its shareholders.
However, there are some areas that need improvement for Zomato Ltd. The company's Non Operating Income is 145.96% of its Profit Before Tax (PBT), which indicates a high reliance on non-business activities for income. This may not be a sustainable business model in the long run.
Moreover, the company's Non Operating Income has also seen a significant increase in the last five quarters, with the highest recorded at Rs 235.00 crore in the March 2024 quarter. This may not be a sustainable source of income for the company.
Overall, Zomato Ltd has shown a strong financial performance in the March 2024 quarter, with positive trends in key financial indicators. This has led MarketsMOJO to give a 'Buy' call for the company's stock. Investors can look forward to a promising future for Zomato Ltd in the IT software industry.
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