Shares of online food delivery platform Zomato on Tuesday gained nearly 11 per cent after the company’s consolidated net loss nearly halved in the first quarter of the current fiscal.
The stock climbed 10.67 per cent to Rs 51.80 on the BSE. On the NSE, it rose 10.79 per cent to Rs 51.30.
Zomato on Monday said its consolidated net loss in the first quarter of the current financial year jumped to around Rs 186 crore on account of higher earnings.
The company had a net loss of Rs 360.7 crore in the same period a year ago.
During the quarter under review, the company’s total income increased to Rs 1,582 crore as against Rs 916.6 crore in the corresponding period of the previous year.
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