Meanwhile, revenue may grow by 61% to 80% in the range of Rs 4,571 crore – Rs 5,111 crore, estimates Nuvama Institutional Actions and ICICI Securities saying.
Sequentially, revenue can increase by up to 9% and 22%, while PAT could see a quarter-on-quarter decline according to Nuvama, although it will gain more than 8% in the opinion of ICICI Sec.
The company which has a significant stake in another BSE listed company called Info Edge (India) will announce its earnings on Tuesday.
Here’s what these brokerages recommended:
Nuvama
Nuvama expects Zomato’s revenue to grow 61% and 9% YoY and QoQ to Rs 4,571 crore, while its core business revenue after tax (PAT) is pegged at Rs 247 crore, which may represent a whopping 585% increase, while a 3% decline sequentially on a high base.
Zomato earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to be around Rs 180 crore, which may represent an increase of 2% quarter-on-quarter.
Nuvama in its previous note said that the adjusted revenue of the food delivery business will likely grow 2.8% q-o-q and almost 20% y-o-y driven by volume growth. “We expect the consolidated EBITDA margin to contract 30 bps quarter-on-quarter,” he said.
ICICI Securities
ICICI Securities pegs Zomato’s revenue for the July-September quarter at Rs 5,111 crore, which could represent an 80% year-on-year increase and a 22% quarter-on-quarter gain. Net profit for the reported quarter is expected to be around Rs 274 crore, representing an increase of 662% YoY and 8.4% QoQ.
EBITDA in the three-month reporting period may be around Rs 198 crore as against a loss of Rs 470 crore in Q2FY24. It may rise 12% QoQ.
“We estimate Zomato GOV food delivery [gross order value] will grow 6% quarter-over-quarter and 23% year-over-year, while Blinkit’s GOV will grow 20.1% quarter-over-quarter and 114.1% year-over-year. Additionally, Hyperpure’s adjusted business (B2B) revenue is estimated to grow 20% QoQ/95.2% YoY in Q2FY25E,” a note from ICICI Securities said.
“Overall, we estimate adjusted revenue growth of 13.1% q-o-q/57.7% y-o-y and the adjusted EBITDA margin will improve to 6.8%, as a proportion of adjusted revenue (up from 6.6%/1 .3% in Q1FY25/Q2FY24). We estimate Adjusted EBITDA of Rs 3,500 crore (Rs 350 crore) in Q2FY25 (versus Rs 3,000 crore/Rs 0.400 crore in Q1FY25/Q2FY24 ),” the brokerage note said.
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