Zomato shares jump nearly 20% after June quarter earnings

PTI | | Updated on: Aug 02, 2022
Zomato’s consolidated net loss in Q1FY23 almost halved to ₹186 crore due to higher income.

Zomato’s consolidated net loss in Q1FY23 almost halved to ₹186 crore due to higher income. | Photo Credit: FLORENCE LO

Zomato’s stock climbs 19.96% to settle at ₹55.60 on BSE and 19.97% to ₹55.55 on NSE

Shares of online food delivery platform, Zomato on Tuesday jumped nearly 20 per cent after the company said its loss in June quarter almost halved.

The stock climbed 19.96 per cent to settle at ₹55.60 on the BSE.

At the NSE, it zoomed 19.97 per cent to ₹55.55.

The company's market valuation climbed to ₹43,777.52 crore on the BSE.

In traded volume terms, 803.27 lakh and 52.88 crore shares were traded at the BSE and NSE, respectively, during the day. Zomato on Monday said its consolidated net loss in Q1FY23 almost halved to ₹186 crore due to higher income.

The company had reported a net loss of ₹360.7 crore in the year-ago period.

During the quarter under review, total income rose to ₹1,582 crore from ₹916.6 crore in the corresponding period last year.

Published on August 02, 2022
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