Zomato Ltd experienced a substantial surge of nearly 7 percent in Friday’s trade as investors anticipated the food aggregator’s September quarter earnings.
The stock rose by 4.83 percent, reaching a high of Rs 112.70 on the Bombay Stock Exchange (BSE). Notably, a total of 28.55 lakh Zomato shares changed hands, slightly below the two-week average of 34.63 lakh shares.
In an impressive financial turnaround, the company posted a consolidated net profit of ₹36 crore for the quarter, a significant improvement compared to the net loss of Rs 251 crore recorded in the same period last year.
This positive result marked a pivotal moment for Zomato, demonstrating its ability to navigate challenges and enhance profitability.
By 3:03 pm, Zomato’s shares continued their upward momentum, trading 6.32 percent higher at ₹114.35.
