Zomato shares leap practically 11% after Q1 earnings

Shares of on-line meals supply platform Zomato on Tuesday jumped practically 11 per cent after the corporate’s consolidated internet loss within the first quarter of the present monetary 12 months nearly halved.

The inventory climbed 10.67 per cent to Rs 51.80 on the BSE. At the NSE, it zoomed 10.79 per cent to Rs 51.30.

Zomato on Monday mentioned its consolidated internet loss within the first quarter of the present monetary 12 months nearly halved to Rs 186 crore as a result of greater revenue.

The firm had reported a internet lack of Rs 360.7 crore within the year-ago interval.

During the quarter underneath assessment, the corporate’s whole revenue rose to Rs 1,582 crore towards Rs 916.6 crore within the corresponding interval of final 12 months.

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