Shares of online food delivery firm Zomato Ltd zoomed over 14 per cent in morning trade on Friday, after the company reported its first-ever consolidated profit after tax of ₹2 crore in the April-June quarter of 2023-24.
The stock jumped 14.11 per cent to reach its 52-week high of ₹98.39 on the BSE.
At the NSE, it rallied 13.69 per cent to its 52-week peak of ₹98.40.
In traded volume terms, 70.26 lakh shares of the company were traded at the BSE and over 19.30 crore shares at the NSE in morning deals.
The company had posted a net loss of ₹186 crore in the same quarter last fiscal, Zomato said in a regulatory filing on Thursday.
Consolidated revenue from operations in the first quarter of the current fiscal was at ₹2,416 crore, as against ₹1,414 crore in the year-ago period, it added.
Total expenses were higher at ₹2,612 crore, as compared to ₹1,768 crore in the same quarter a year ago.
In a letter to shareholders, Zomato Managing Director & Chief Executive Officer (CEO) Deepinder Goyal said the company has been working hard to make its business less complex, and putting the right people at the right spots within its businesses.
{{/usCountry}}In a letter to shareholders, Zomato Managing Director & Chief Executive Officer (CEO) Deepinder Goyal said the company has been working hard to make its business less complex, and putting the right people at the right spots within its businesses.
{{/usCountry}}He had said in May that the company was confident of achieving profitability for the entire business in the next four quarters.