Shares of online food delivery platform Zomato rallied over 8 per cent in morning trade on Friday after the company announced that it has narrowed its consolidated net loss to ₹250.8 crore in the second quarter ended September.

The stock rose 8.05 per cent to ₹69.10 on the BSE. On the NSE, it rallied 8.21 per cent to ₹69.20.

The 30-share BSE Sensex benchmark was trading 1,016.73 points higher at 61,630.43.

Zomato on Thursday said that its consolidated net loss narrowed to ₹250.8 crore in the second quarter ended September 30.

The company's consolidated net loss stood at ₹434.9 crore in the year-ago period.

Revenue from operations increased to ₹1,661.3 crore during the July-September quarter against ₹1,024.2 crore in the corresponding period of the previous financial year, it said in a regulatory filing.

Related Stories
Meta, Twitter, Snap and more: What’s behind the layoffs?
Some of these technology companies may be forced to re-examine their business models amid a changing environment