which new-age tech stock posted a profit in the june quarter? 2023

which new-age tech stock posted a profit in the june quarter?

Three new-age tech stocks in India posted a profit in the June 2023 quarter, a significant development that suggests these companies are maturing and becoming more profitable.

Zomato, the Indian food delivery platform, reported its first-ever net profit of ₹42.2 crore ($5.3 million). This was a sharp improvement from the ₹371.4 crore loss it reported in the same quarter last year. Zomato’s revenue grew by 84% year-over-year to ₹5,262 crore ($660 million).

EaseMyTrip, the Indian travel booking platform, reported its first-ever net profit of ₹101.2 crore ($13 million). This was a significant improvement from the ₹21.4 crore loss it reported in the same quarter last year. EaseMyTrip’s revenue grew by 30% year-over-year to ₹1,550 crore ($200 million).

Delhivery, the Indian logistics company, reported a net profit of ₹360 crore ($45 million). This was a significant improvement from the ₹279 crore loss it reported in the same quarter last year. Delhivery’s revenue grew by 44% year-over-year to ₹7,920 crore ($1 billion).

These results are a positive sign for the Indian new-age tech sector. They suggest that these companies are becoming more efficient and are able to generate sustainable profits. This could lead to increased investor interest in these stocks.

In the coming quarters, these companies are likely to continue to grow. Zomato is expanding its international operations, EaseMyTrip is launching new products and services, and Delhivery is investing in new technologies. These growth initiatives could further boost their profitability in the future.

Here are the new-age tech stocks that posted a profit in the June 2023 quarter:

  • Zomato
  • EaseMyTrip
  • Delhivery

Which New-Age Tech Stocks Posted a Profit in the June Quarter?

In the June 2023 quarter, three new-age tech stocks posted a profit: Zomato, EaseMyTrip, and Delhivery. This is a significant development, as it suggests that these companies are maturing and becoming more profitable.

Zomato, the Indian food delivery platform, reported its first-ever net profit of ₹42.2 crore ($5.3 million) in the June quarter. This was a sharp improvement from the ₹371.4 crore loss it reported in the same quarter last year. Zomato’s revenue grew by 84% year-over-year to ₹5,262 crore ($660 million).

EaseMyTrip, the Indian travel booking platform, reported its first-ever net profit of ₹101.2 crore ($13 million) in the June quarter. This was a significant improvement from the ₹21.4 crore loss it reported in the same quarter last year. EaseMyTrip’s revenue grew by 30% year-over-year to ₹1,550 crore ($200 million).

Delhivery, the Indian logistics company, reported a net profit of ₹360 crore ($45 million) in the June quarter. This was a significant improvement from the ₹279 crore loss it reported in the same quarter last year. Delhivery’s revenue grew by 44% year-over-year to ₹7,920 crore ($1 billion).

These results are a positive sign for the Indian new-age tech sector. They suggest that these companies are becoming more efficient and are able to generate sustainable profits. This could lead to increased investor interest in these stocks.

What’s Next?

These companies are likely to continue to grow in the coming quarters. Zomato is expanding its international operations, EaseMyTrip is launching new products and services, and Delhivery is investing in new technologies. These growth initiatives could further boost their profitability in the future.

Q: Why is this significant?

A: It is significant that these new-age tech stocks posted a profit in the June 2023 quarter because it suggests that they are maturing and becoming more profitable. This is a positive sign for the Indian new-age tech sector as a whole.

Q: What are the implications for investors?

A: The results of these companies could lead to increased investor interest in new-age tech stocks. Investors may see these stocks as being more attractive investments now that they are profitable.

Q: What can we expect from these companies in the future?

A: These companies are likely to continue to grow in the coming quarters. They are expanding their operations, launching new products and services, and investing in new technologies. These growth initiatives could further boost their profitability in the future.

Additional FAQs

Q: What are new-age tech stocks?

A: New-age tech stocks are those that are involved in emerging technologies such as e-commerce, food delivery, online travel, and logistics. These companies are typically growing rapidly and have the potential to revolutionize their respective industries.

Q: Are new-age tech stocks good investments?

A: New-age tech stocks can be good investments, but they are also risky. These companies are typically in their early stages of growth and may not be profitable. However, if they are able to successfully execute their growth strategies, they could generate significant returns for investors.

Q: What are some of the risks involved in investing in new-age tech stocks?

A: The risks involved in investing in new-age tech stocks include:

  • Competition: These companies often face intense competition from other new-age tech companies as well as established players in their respective industries.
  • Regulation: These companies are subject to government regulation, which could change at any time and impact their business.
  • Market volatility: New-age tech stocks are often more volatile than traditional stocks, meaning that their prices can fluctuate wildly.

Investors should carefully consider all of the risks involved before investing in new-age tech stocks.

Leave a Comment