Zomato shares climb nearly 14 per cent as firm narrows loss in September quarter

NEW DELHI: Shares of Zomato rallied nearly 14 per cent on Friday after the company announced that it has narrowed its consolidated net loss to Rs 250.8 crore in the second quarter.

The stock rose 13.84 per cent to close at Rs 72.80 apiece on BSE. On the NSE, it zoomed 13.60 per cent to end at Rs 72.65 apiece.

In volume terms, 3.19 crore shares were traded on the BSE and over 39 crore units were on the NSE during the day.

Online food delivery platform Zomato on Thursday said its consolidated net loss narrowed to Rs 250.8 crore in the second quarter ended September 30.

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

Revenue from operations increased to Rs 1,661.3 crore during the July-September quarter against Rs 1,024.2 crore in the corresponding period of the previous financial year.

The company said this is the first quarter where it has crossed the billion-dollar annualised revenue mark.

However, its total expenses also rose to Rs 2,091.3 crore during the quarter under review from Rs 1,601.5 crore a year ago.

The 30-share BSE Sensex benchmark ended 1,181.34 points or 1.95 per cent higher at 61,795.04 on Friday.

NEW DELHI: Shares of Zomato rallied nearly 14 per cent on Friday after the company announced that it has narrowed its consolidated net loss to Rs 250.8 crore in the second quarter. The stock rose 13.84 per cent to close at Rs 72.80 apiece on BSE. On the NSE, it zoomed 13.60 per cent to end at Rs 72.65 apiece. In volume terms, 3.19 crore shares were traded on the BSE and over 39 crore units were on the NSE during the day. Online food delivery platform Zomato on Thursday said its consolidated net loss narrowed to Rs 250.8 crore in the second quarter ended September 30. The company's consolidated net loss stood at Rs 434.9 crore in the year-ago period. Revenue from operations increased to Rs 1,661.3 crore during the July-September quarter against Rs 1,024.2 crore in the corresponding period of the previous financial year. ALSO READ | Zomato posts Rs 251 crore loss in Q2 as Blinkit acquisition weighs in The company said this is the first quarter where it has crossed the billion-dollar annualised revenue mark. However, its total expenses also rose to Rs 2,091.3 crore during the quarter under review from Rs 1,601.5 crore a year ago. The 30-share BSE Sensex benchmark ended 1,181.34 points or 1.95 per cent higher at 61,795.04 on Friday.