Zomato Shares Crossed Rs 100 Mark After Reporting Profit, Jumps 5%

Shares of online food delivery firm Zomato Ltd zoomed over 5% in early trade, crossed Rs 100 per share mark on Monday after reporting profit in the first quarter of fiscal year 2023-24. Crossing the Rs 100 per share mark, the stock it hit new 52-week high on BSE at Rs 102.85 per share.

Zomato announced a total net profit of Rs 2 crore for the quarter ended June 2023, compared to a loss of Rs 186 crore in the previous fiscal year's similar quarter. In addition, the company posted a loss of Rs 189 crore in the March quarter.

Reports revenue from operations for the reporting quarter ended June at Rs 2,416 crore, up approx. 71% YoY from Rs 1,414 Crore reported by the company in the previous period.

Zomato's Shares currently trading at Rs 100.60 per share on BSE, up 5.42% from it previous close of Rs 95.43 per share on BSE. The shares jumped 20.04% in 1 week. It has given 85.17% string return in the past 1 year.