Food Delivery giant Zomato is poised to report is Q4 FY24 earnings today. Zomato’s adjusted revenue growth is expected to be 10.2% QoQ and 47% YoY and overall adjusted EBITDA margin to improve to -3.9% as a proportion of adjusted revenue versus -7.2% in Q4FY23. Its food delivery gross order value (GOV) is expected to grow 6.8% QoQ and 9.2% YoY in Q1FY24, broadly in line with management commentary.
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“We think this was aided by increased participation from Zomato Gold members. We estimate marginal improvement in food AOV (0.8% QoQ), as we think higher cart sizes should more than compensate for lower blended delivery charges (-2% QoQ). We estimate food ordering contribution margin to expand by 50 bps QoQ led by restaurant take rate improvements,” ICICI Securities said.
The brokerage estimates Hyperpure business (B2B) to grow 12% QoQ and Blinkit to grow 13.6% QoQ in Q1FY24 as both network density and reach improve.