Milestone Alert



<ul>
<li>Consolidated business (including quick commerce) is now Adjusted EBITDA and PAT positive (first time ever!). We have (again) delivered ahead of our guidance on getting to this milestone
<ol>
<li>Adjusted EBITDA was +INR 12 crore in Q1FY24&nbsp;</li>



<li>Profit after Tax (PAT) was +INR 2 crore </li>
</ol>
</li>



<li>Quick commerce (Blinkit) business turned Contribution positive for the first time ever, in the month of June 2023. New guidance alert &#8211; we believe we can deliver Adjusted EBITDA breakeven in the quick commerce business in the next four quarters </li>
</ul>



<figure class="wp-block-image alignfull size-large"><img decoding="async" loading="lazy" width="640" height="450" src="https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=640%2C450&#038;ssl=1" alt="" style='width:100%' class="wp-image-12972" srcset="https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=1024%2C720&amp;ssl=1 1024w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=300%2C211&amp;ssl=1 300w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=768%2C540&amp;ssl=1 768w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=1536%2C1080&amp;ssl=1 1536w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=2048%2C1440&amp;ssl=1 2048w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?resize=1568%2C1103&amp;ssl=1 1568w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?w=1280&amp;ssl=1 1280w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/08/Consolidated-1.png?w=1920&amp;ssl=1 1920w" sizes="(max-width: 640px) 100vw, 640px" data-recalc-dims="1" /></figure>



<div class="wp-block-file"><a href="https://drive.google.com/file/d/1sP0Kf2gtTnUCPzzN_6pICfWEx6iXYP4Q/view?usp=sharing">Click here to download Q1FY24 results</a><a style="margin-left:0.75em;background: #32373c;border-radius: 2em;color: #fff;font-size: 13px;padding: 0.5em 1em"href="https://drive.google.com/file/d/1sP0Kf2gtTnUCPzzN_6pICfWEx6iXYP4Q/view?usp=sharing" class="wp-block-file__button" download="">Download</a></div>

Q1FY24 shareholders’ letter and results

“Physical activity is not what you do separate from your job, but rather an integral part of your job” – Brad Stulberg Before I break the details behind this clickbaity heading, “A new kind of CFO”, let me just walk you through my personal belief system, and the journey I have traversed over the last 4-5 years.&nbsp;



It is no secret that physical health – which also determines mental health is a vital force behind a high-performance individual. When we move our bodies regularly, we are in better control of our emotions, we think more creatively, and have more energy to tackle more in a day, in a better way than before. In 2019, a few months before the pandemic, I started treating my health as an equal priority to my work. My hypothesis was that I will be able to produce more and better quality work, if I am in peak physical (and mental) shape.&nbsp;



I started tracking my carb intake, ate a healthy diet (all ordered via Zomato; because Indian home cooked food is so dominated by carbs), and worked out regularly. I didn’t do anything extreme, always had a day or two of cheat days on weekends (with cholle bhature, butter chicken, and gulab jamun and what not). But overall, I was consistent with more healthy behaviour each week compared to my previous habits. Consistency without extremities has had a positive effect on both my physical and psychological health. Here’s a quick highlight of my vitals from 2019 as compared to today’s blood report and a glance on the effect on my physical appearance.



<img decoding="async" loading="lazy" src="https://lh5.googleusercontent.com/kwTcPxrZXFlACouxUgZBJQov-sqRDFWj5X8Au5GQuJf40Q9iMp-6HysY1ImUoSyPeuyF58nyUAofumFyvakScxsUi0wI43jQoTbNs0PwNGyWVWPgqe65BICq8iAWN3m0y-l4Pop0WbUQYT1it_G5x1U" width="624" height="373">



<figure class="wp-block-image"><img decoding="async" src="https://lh4.googleusercontent.com/89EDxKSGvRjQzSPBm5ZAOfoZIAFkxn_Dr3CCtFZEUC9AVWeYXeEKpVHk07tMfnt9csE7x7UhhpohEB6EbX1YkqN18mbiKHUwFKwFx-x1IgPAlLkB7BRM9Ks2AGECvNlrbb1huQ92ixMXASMBGjhbcoc" alt=""/></figure>



Great work is an outcome of good health; good health is not secondary to great work. And we have always been promoting the importance of physical and mental health for our employees. For example we have –&nbsp; 



<ol>
<li>Fitness Facility: Our Gurgaon headquarters has one of the city&#8217;s largest gyms, encouraging our employees to embrace an active lifestyle.</li>



<li>Mental Health Support: We have an in-house mental health team offering a safe space for open conversations and professional guidance.</li>



<li>Leave Policies: Period Leaves to support women&#8217;s health; Parental Leaves offering 6 months of leave for birthing parents, same-sex parents, and parents via surrogacy and adoption.&nbsp;</li>
</ol>



Today, we are announcing a paradigm shift in the constitution of our senior team here at Zomato (and other companies?). We’ve created a position for a new kind of CFO — Chief Fitness Officer. What will our Chief Fitness Officer do? 



<ul>
<li>The Chief Fitness Officer will work closely with all Zomans in their individual journey of wellness and healthy living. The new CFO will work with an in-house wellness team of trainers, nutritionists and wellbeing counsellors.</li>



<li>Our trainers will help in weight and strength training, yoga, boxing and more –&nbsp;to cater to beginners as well as pros.&nbsp;</li>



<li>Our nutritionists will chart out personalised meal plans for Zomans to track macro and micronutrient intake. Personally, I feel a good diet is 80% of the work in one’s fitness journey.</li>
</ul>



I believe companies need to remove the stigma around employees taking the time to care about fitness whilst at work — because only when people are healthy, they are equipped to accept and face the hardest challenges life throws at them.&nbsp;&nbsp;&nbsp;



Anmol Gupta (insta: <a href="https://www.instagram.com/endurewithanmol/">endurewithanmol</a>) has joined us as our Chief Fitness Officer, and I am looking forward to working with him to transform the way people think about work. Going forward, we are going to invest heartily behind the wellbeing of our employees, our delivery partners and our restaurant partners. 



Today is, like always, just Day 1.&nbsp;



Cheers,&nbsp; Deepi &#8212; Leaving you with some pictures from our gym –&nbsp;which is open throughout the day.&nbsp;&nbsp;



<figure class="wp-block-image"><img decoding="async" src="https://lh3.googleusercontent.com/ECU4yilcV5mewOY5pMdExur0weFboC6EAJMbj62zBXgomYtYL9XBiuYqFiOxiNWaOAtaFtXnEBolDZsV5qvOGdNwbndk6Pi6XAJanycTJ8CvDKa1vViBBcPJTUHfETmnj9QgBSO3NnF2smTOIjHpQj4" alt=""/></figure>

A new kind of CFO

Milestone Alert Our business excluding quick commerce turned Adjusted EBITDA positive in Q4FY23 driven by the food delivery business generating INR 0.78 billion of Adjusted EBITDA in the quarter. In August 2022, we had announced that this business will get to break-even within the next 3-5 quarters, and we are pleased to have delivered on that goal in the third quarter post that announcement 🚀



Next up – we are aiming to get to positive Adjusted EBITDA (and also PAT) on a consolidated basis (including quick commerce) within the next 4 quarters 🔥



(Note: The difference between Adjusted EBITDA and Profit after Tax (PAT) has narrowed significantly over time)



<figure class="wp-block-image alignfull size-large"><img decoding="async" loading="lazy" width="640" height="436" src="https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?resize=640%2C436&#038;ssl=1" alt="" class="wp-image-12886" srcset="https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?resize=1024%2C697&amp;ssl=1 1024w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?resize=300%2C204&amp;ssl=1 300w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?resize=768%2C523&amp;ssl=1 768w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?resize=1536%2C1045&amp;ssl=1 1536w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?resize=2048%2C1394&amp;ssl=1 2048w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?w=1280&amp;ssl=1 1280w, https://i0.wp.com/zomatoblog.com/wp-content/uploads/2023/05/Consolidated-2.png?w=1920&amp;ssl=1 1920w" sizes="(max-width: 640px) 100vw, 640px" data-recalc-dims="1" /></figure>



<div class="wp-block-file"><a href="https://drive.google.com/file/d/13917CIypRtDtpxydl_gR9qSVfxsJaeiw/view?usp=sharing">Click here to download Q4FY23 results</a></div>

Q4FY23 shareholders’ letter and results

The Restaurant Industry in India today, truly brings India’s diversity on a platter and makes this world a smaller place, one bite at a time. We are sure you have your favourites that govern your taste buds. From the iconic &#8216;chole bhature and chaap&#8216; in Delhi to the mouth-watering &#8216;Haleem&#8216; in Hyderabad, or even the &#8216;Student favourites&#8217; dining places&#8216; in Pune, we have something for everyone, courtesy of our restaurant partners.



With just that in mind, we are thrilled to announce the return of Zomato Restaurant Awards after a long hiatus. Our mission is to honour those special places that have become a part of our lives and traditions. The pandemic has redefined our relationship with food, but the love for food is eternal. The Zomato Restaurant Awards is our way of giving a platform to our customers to recognise and celebrate the best restaurants in each category.



We believe that customers should have a say in which restaurants are the best, and that&#8217;s why our awards are by the customers and for the customers. Every vote counts towards making that restaurant, which has brought so much joy and happiness to your lives, receive the recognition it deserves.



Join us as we give back to the restaurants that truly deserve it and create more memories over delicious food and dining experiences.&nbsp;



The power to choose is in your hands! <a href="https://link.zomato.com/xqzv/8gqnja4u">Start voting now on the Zomato app</a>.



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