The online food delivery giant Zomato on Tuesday (October 22) released its financial results for Q2FY25. Alongside these results, the company also announced of its plans to raise up to Rs 8,500 crore through a qualified institutional placement (QIP) of equity shares.
Consolidated Financial Results
Zomato's consolidated total income for the year reached Rs 5,020 crore, an increase from Rs 3,060 crore in the previous yea.
However, the total expenses also rose, amounting to Rs 4,783 crore compared to Rs 3,039 crore year-over-year (YoY).
Although, the company had a surge in its expenses but the company posted a net profit of Rs 176 crore, a rise from Rs 36 crore in the previous fiscal year.
Standalone Financial Results
On a standalone basis, the online food giant's total income reached Rs 2,420 crore, up from Rs 1,825 crore the previous year.
Image used for representational purpose only |
Furthermore, the total expenses, in a similar note to the standalone results, also surged to Rs 1,923 crore, compared to Rs 1,510 crore YoY.
Nonetheless, Zomato's net profit saw a significant jump to Rs 421 crore, up from Rs 315 crore last year.
QIP Announcement
Apart of the financial highlights, Zomato's board has approved the issuance of equity shares through a qualified institutional placement. This initiative aims to raise up to Rs 8,500 crore, with the specifics regarding pricing and discounts to be determined in due course.
Image used for representational purpose only | Image: Wikipedia (Representative)
Employee Stock Options
In addition to its financial results and funding plans, the company's board has approved the allotment of 19,66,875 equity shares to its employees under various Employee Stock Option Plans.
This allotment consists of shares from the Zomato Employee Stock Option Plans of 2018, 2021, and 2022.
Following this allotment, Zomato's paid-up equity share capital will increase from Rs 883,43,75,172 to Rs 883,63,42,047, added the company in the exchange filing.
Share performance
The shares of the company on Tuesday ended the day at Rs 256.55, a decline of 3.44 per cent.
The stock opened at Rs 267.00, peaked at Rs 270.90, and touched a low of Rs 252.75 apiece.
