Shares of Zomato surged over 4% in trade to hit an intraday high of Rs 147.50, but witnessed some pressure after the company released its Q3 earnings. The sharp fall in the shares post the numbers could be attributed to profit booking as market participants would have held positions ahead of the results.
Zomato’s Q3 net profit came in at Rs 138 crore against a profit of Rs 36 crore that the company posted in the previous quarter. The company’s revenue surged by 79% to reach ₹3,288 crore, a substantial rise from ₹1,948 crore in the same period last year.
EBITDA for the quarter stood at ₹51 crore, a marked improvement from the EBITDA loss of ₹366 crore year-on-year. The EBITDA margin was reported at 1.5%. Zomato’s Quick Commerce Revenue witnessed a substantial growth, reaching ₹664 crore, compared to ₹301 crore in the previous year.
