Zomato shares surge 10% to 52-week high; m-cap crosses Rs 1 lakh crore mark

Shares of food delivery app Zomato jumped over 11% in intraday trade and hit their 52-week high of Rs 119.90 on the NSE on Friday following a surprise profit delivery of Rs 36 crore in the September quarter. Analysts had expected the company to post a loss of Rs 5 crore.

The stock which closed nearly 10% higher at Rs 117.90, also crossed a market cap of Rs 1 lakh crore. At the close, its overall market cap stood at Rs 1.01 lakh crore.

The results infused a strong buying interest in the counter as 17.36 shares traded on the NSE minutes before the market closing time.


The company had posted a surprise profit of Rs 2 crore in the preceding June quarter and a loss of Rs 251 crore in the year-ago period.

Revenue from operations surged 71% year-on-year (YoY) to Rs 2,848 crore, which was also higher than Street expectations of Rs 2,607 crore.

The gross order value (GOV) across its B2C businesses (food delivery + quick commerce + going-out) grew 47% YoY to Rs 11,422 crore.

Food delivery GOV jumped 20% YoY and is said to be recovering well from the demand slowdown witnessed in the last two quarters of FY23.

Zomato, which mentioned in the previous quarter that its adjusted revenue would compound at a 40%+ growth rate over the next couple of years, reiterated the outlook and is confident of delivering the same.

Adjusted revenue in the second quarter rose 53% YoY to Rs 3,227 crore.

Adjusted EBITDA for the said quarter came in at Rs 41 crore, as against a loss of Rs 192 crore in the same quarter previous year.

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