Bengaluru: Shares of Zomato Ltd jumped 13% on Friday, a day after the food delivery company reported a narrower loss for the second quarter due to a rise in volumes and value of online orders.
The company’ shares rose as much as 13% to 72.25 rupees in early trading, to hit their highest since June 27.
Zomato’s consolidated net loss narrowed to 2.51 billion Indian rupees ($30.73 million) in the July-September quarter, from 4.30 billion rupees a year earlier.
Excluding figures for its recently acquired quick-commerce business Blinkit, Zomato’s loss was 600 million rupees.
It’s gross order value, the total value of all food delivery orders placed online on Zomato’s platform, jumped nearly 23%. -Reuters
(Reporting by Akansha Victor in Bengaluru; Editing by Savio D’Souza)
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