Shares of online food delivery platform Zomato rose nearly 10 percent on Friday after reporting 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 rose 8.28 percent to settle at Rs 116.40 on the BSE. During the day, it zoomed 11.62 percent to touch a 52-week high of Rs 120.
On the NSE, it rose 9.62 percent to Rs 117.90.
In terms of traded volume, 83 lakh shares of the company were traded on BSE and 23.88 crore shares on NSE during the day.
The company reported a loss of Rs 251 crore in the same quarter of the previous financial year.
In the second quarter of this fiscal, revenue from operations was Rs 2,848 crore. It was Rs 1,661 crore a year ago.
Total expenditure during the quarter under review was Rs 3,039 crore. It stood at Rs 2,092 crore in the year-ago quarter, according to a regulatory filing.
“The growth momentum we first witnessed in FY24 was driven by healthy growth across all our businesses in Q2FY24,” said founder and CEO Deepinder Goyal.
