Zomato's Q3 FY24 ad spends increase by 8.2% YoY

Online food delivery Zomato spent Rs 317 crore on sales promotion and advertising in Q3FY24. This marks an 8.2% increase in ad spends over the same quarter from previous fiscal year, where the food aggregator spent Rs 293 crore.

The company reported a consolidated net profit of Rs 138 crore in the December quarter.

The company had posted a consolidated net loss of Rs 347 crore in the same quarter last fiscal, Zomato said in a regulatory filing.

Consolidated revenue from operations in the third quarter of the ongoing fiscal stood at Rs 3,288 crore as against Rs 1,948 crore a year ago, it added.

Total expenses were higher at Rs 3,383 crore. The same was Rs 2,485 crore in the corresponding period a year ago, the company said.

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