Zomato’s shares went up by 10.30 per cent after the company reported financial results for the April-June quarter of 2023-24, marking a significant milestone for the company as it reported its first-ever consolidated profit after tax of ₹2 crore. This achievement comes as an improvement from the net loss of ₹Rs 186 crore posted in the corresponding quarter of the previous fiscal year.
The company’s revenue growth played a pivotal role in this outcome, with consolidated revenue from operations reaching ₹2,416 crore, compared to ₹1,414 crore in the year-ago period.
The shares went up by 10.30 per cent to ₹95.05 at 10.05 am on BSE.