11-11-2022 10:12 AM | Source: Reuters
India`s Zomato surge 13% on narrower quarterly loss
News By Tags | #8026 #1302 #572 #5204 #8198

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

Shares of Zomato Ltd jumped 13% on Friday, a day after the food delivery company reported a narrower loss for the second quarter due to a rise in volumes and value of online orders.

The company' shares rose as much as 13% to 72.25 rupees in early trading, to hit their highest since June 27.

Zomato's consolidated net loss narrowed to 2.51 billion Indian rupees ($30.73 million) in the July-September quarter, from 4.30 billion rupees a year earlier.

Excluding figures for its recently acquired quick-commerce business Blinkit, Zomato's loss was 600 million rupees.

It's gross order value, the total value of all food delivery orders placed online on Zomato's platform, jumped nearly 23%.