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Zomato Shares Climb 18.5% On Record High Order Value
Zomato shares in a steady market have gained by close to 10% in early trade. The shares of the food delivery platform as against the previous close of 57.05, surged to day's high price of Rs. 67.6 ,making gains of over 18.5% in early trade.
The company on Monday reported its Q4 numbers. In the latest quarter, the company's consolidated net loss mounted and trebled to Rs. 359.9 crore. Nevertheless, there has been reported gains in total revenue from operations from Rs. 692.4 crore in March 2021 to Rs. 1211.8 crore in Q4Fy22 period.
Total expenses during the last quarter rose to Rs 1,701.7 crore as against Rs 885 crore earlier. Gross Order Value grew by 77% on-year to a record high of Rs 5,850 crore in Q4FY22, driven by healthy growth in order volumes while the average order value remained stable.
Last the shares of Zomato at 9:41 am traded higher by 15.69% at Rs. 65.95 per share.
