Mumbai: On-line meals supply firm Zomato’s shares prolonged its morning session loss on Tuesday as much as 5-6 %, as the corporate is anticipating a rise in price because of the worker inventory possession plan (ESOP).

Zomato introduced outcomes of the fourth quarter of the monetary yr 2024 on Monday.

Within the post-result commentary, the administration stated that within the present monetary yr (FY25), the prices could enhance because of the grant of ESOPs to senior workers and the management group of Blinkit.

The meals supply big stated they’d sought permission from the shareholders to situation 18.2 crore shares to the workers as ESOP.

In line with the present market worth, ESOPs’ worth is round Rs 3,500 crore.

Zomato registered a revenue of Rs 175 crore in This fall of FY24. The corporate reported a lack of Rs 188 crore in the identical interval final yr.

After the end result, brokerage agency Emkay World maintained a purchase score on Zomato with a goal value of Rs 230 per share.

“Zomato posted regular operational outcomes, with income forward of our estimates whereas the margin miss was on account of upper than anticipated ESOP prices (for the Blinkit management group),” stated the brokerage agency.

“Meals supply gross order worth (GOV) grew 28.5 per cent YoY to Rs 84.4 billion (-0.6 per cent QoQ), with Blinkit GOV up 13.7 per cent QoQ/96.8 per cent YoY to Rs 40.3 billion. Blinkit achieved operational EBITDA break-even in March 2024,” it added.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here