Zomato share price jumps 12% a day after Q1 results on first-ever quarterly profit
Zomato share price rose 12% in early trade today, a day after the food delivery company posted its first-ever quarterly profit. The Zomato stock opened at ₹89 against yesterday's closing price of ₹86.22. The Zomato share price gained further to hit a high of ₹98.39 - a jump of 12% - in the morning trade.
At the time of writing this copy Zomato shares were trading at ₹96.23, up ₹10, or 11.61%. The food delivery platform Zomato on Thursday announced its Q1 earnings for FY24. The company reported a net profit of ₹2 crore against a loss of ₹186 crore (YoY).
The revenue of the firm was up at ₹2,416 cr versus ₹1,414 crore (YoY). Zomato shares listed on the bourses in July 2021 at ₹115.00 against issue price of ₹76. “Zomato expects adjusted revenue to grow at over 40% for at least the next couple of years and remain profitable going forward.
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