Zomato shares jump nearly 20 pc after June qtr earnings

The stock climbed 19.96 per cent to settle at Rs 55.60 its upper circuit limit on the BSE. At the NSE, it zoomed 19.97 per cent to Rs 55.55.
Representative image
Representative image

NEW DELHI: Shares of online food delivery platform Zomato on Tuesday jumped nearly 20 per cent after the company said its loss in June quarter almost halved.

The stock climbed 19.96 per cent to settle at Rs 55.60 its upper circuit limit on the BSE. At the NSE, it zoomed 19.97 per cent to Rs 55.55.

The company's market valuation also climbed Rs 7,283.52 crore to Rs 43,777.52 crore on the BSE.

In traded volume terms, 803.27 lakh shares were traded at the BSE and over 52.88 crore shares at the NSE during the day. Zomato on Monday said its consolidated net loss in the first quarter of current financial year almost halved to Rs 186 crore due to higher income.

The company had reported a net loss of Rs 360.7 crore in the year-ago period.

During the quarter under review, total income rose to Rs 1,582 crore from Rs 916.6 crore in the corresponding period last year.

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