Food delivery platform Zomato has reported net sales of Rs 2,416 crore in Q1, 2023. As against Rs 1,413.90 crore made in the same quarter last year. Zomato’s net profit is up by 101.8 percent at Rs 200 crore against Rs 185.70 crore made in the same quarter last year.
As a result, Zomato share prices jumped over 12 percent in the early hours of trading today. Yesterday the share price closed at Rs 86.22 and today it started trading at Rs 89. In the first hour of the trade, the prices surged by 10 per cent to trade at Rs 96.23.
At the time of writing this copy, the share price of Zomato was trading at Rs 95.65 apiece. In the last six months, Zomato shares have given a return of 77.54 percent and 56.09 per cent in the last 12 months. Yesterday, the quarterly earnings were announced during market hours, and the price of the stocks jumped over 2 percent of the NSE.
The total collected EBITDA was up from Rs 139.20 crore in June 2022 to Rs 133 crore in June 2023, which is a rise of 195.55 percent. Zomato in its filing mentioned that its subsidiary Blinkit also contributed to the profits for the first time in Q1, 2023.
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