Zomato Shares Surge 10% After Profitable Quarter

New Delhi, Nov 3 (PTI) Shares of online food delivery platform Zomato on Friday jumped nearly 10 per cent after the company reported a consolidated profit after tax of Rs 36 crore for the second quarter ended September 2023, driven by strong revenue growth.

The company's stock rallied 8.28 per cent to settle at Rs 116.40 on the BSE. During the day, it zoomed 11.62 per cent to reach its 52-week high of Rs 120.

At the NSE, it climbed 9.62 per cent to Rs 117.90.

On traded volume terms, 83 lakh shares of the company were traded at the BSE and over 23.88 crore shares at the NSE during the day.

The company had reported a loss of Rs 251 crore in the corresponding quarter of the previous financial year.

In the second quarter of this fiscal, revenue from operations was Rs 2,848 crore. In the year-ago period, it was Rs 1,661 crore.

Total expenses were Rs 3,039 crore in the quarter under review. In the year-ago quarter, it stood at Rs 2,092 crore, according to a regulatory filing.

"The growth momentum we witnessed in Q1FY24 continued in Q2FY24 driven by healthy growth across all our businesses," Founder and CEO Deepinder Goyal said.