Zomato rallies 7% on inclusion in BSE Sensex from Dec 23; JSW Steel down 2%

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Zomato rallies 7% on inclusion in BSE Sensex from Dec 23; JSW Steel down 2% - Business Standard

Quick Summary:

In terms of profitability, in the near-term, the management expects the going-out business to continue to remain near break-even on adjusted ebitda-basis (as has been the case so far), it added.

According to Geojit Financials, Zomato's management expects the going-out segment's gross order value (GOV) to grow more than 3x moving forward, reaching upwards of Rs 1,000 crore from Rs 323 crore in FY24.

Earnings before interest, tax, depreciation and amortisation (ebitda) stood at Rs 226 crore, largely driven by platform fees and higher ad revenue, and might only witness a stable rise in the near term.