Zomato Share Price Jumps Over 4% to 52 week High

Zomato share price jumped over 4% in early trade on Friday to hit a fresh 52-week high after the company reported impressive results for the quarter ended December 2023 led by robust growth in food delivery businesses. Zomato share price jumped over 4% in early trade on Friday to hit a fresh 52-week high after the company reported impressive results for the quarter ended December 2023 led by robust growth in food delivery businesses.

Zomato shares gained as much as 4.34% to new high of ₹150.25 apiece on the BSE. Zomato shares gained as much as 4.34% to new high of ₹150.25 apiece on the BSE.

The online food delivery platform Zomato posted a net profit of ₹138 crore in the third quarter of FY24 against a loss of ₹347 crore in the same period last year. Zomato’s net profit swelled 283% on a quarter-on-quarter (QoQ) basis. The online food delivery platform Zomato posted a net profit of ₹138 crore in the third quarter of FY24 against a loss of ₹347 crore in the same period last year. Zomato’s net profit swelled 283% on a quarter-on-quarter (QoQ) basis.

Zomato’s revenue from operations in Q3FY24 came in at ₹3,288 crore, registering a growth of 69%, compared to ₹1,948 crore, YoY. Zomato’s revenue from operations in Q3FY24 came in at ₹3,288 crore, registering a growth of 69%, compared to ₹1,948 crore, YoY.

Zomato now expects consolidated adjusted revenue to grow at 50%+ YoY in the next few quarters, with Blinkit doing the heavy lifting. Zomato now expects consolidated adjusted revenue to grow at 50%+ YoY in the next few quarters, with Blinkit doing the heavy lifting.