At 11:30 am, Zomato shares were trading at Rs 131.75, up 5.44 per cent, on the BSEZomato shares skyrocketed almost 5 percent in a weak market a day after the company reported a dive in profits in the quarter June 2021.
Zomato's profits from operations in the very first quarter of the current financial stood at Rs 844 crore, compared to Rs 266 crore in the corresponding duration in 2015, marking a three-fold boost year-on-year.
At 11:30 am, Zomato shares were trading at Rs 131.75, up 5.44 percent, on the BSE.The newly noted company, nevertheless, reported a net loss of Rs 356 crore in the June 2021 quarter compared to a loss of Rs 99.8 crore in the year-ago duration as its dining-out business was impacted by the Covid-19 pandemic.This is Zomato's very first quarterly revenues upgrade considering that its stellar stock market debut last month.
Last month, Zomato had listed at a premium of 53 percent and subsequently accomplished a market capitalisation of Rs 1.08 lakh crore on the BSE.The BSE Sensex was trading at 54,271.75, lower by 280 points or 0.51 per cent and the NSE Nifty was at 16,196.10, down 85.30 points or 0.52 per cent at the time.