 "Zomato is now allowing its users to build multiple carts at one time")
Analysts seem to have turned positive on Zomato. The stock hit all-time highs recently. Zomato’s gross merchandise value (GMV) growth rates may have bottomed out in Q1FY24 at 14 per cent year-on-year (Y-o-Y).
Growth should improve from Q2FY24. Take rates (commission as a percentage of GMV) may have stabilised, though improvement is not expected.
Factoring in better demand for delivery, FY24 overall might have growth estimates for 18 per cent. Higher revenue forecasts could drive adjusted operating profit growth of 10-22 per cent and a net profit upgrade between 10-30 per cent for the period FY24-FY26.
Zomato posted 14 per
