Zomato shares surge 19 per cent after Q4 results
May 24, 2022
Mumbai (Maharashtra) [India], May 24 : Share price of food aggregator Zomato Limited soared around 19 per cent on Tuesday, a day after the company announced its financial results for the quarter ended March 2022.
At the BSE at around 2.30 pm, Zomato share was trading at 11.75 per cent higher at Rs 63.70.
Earlier, the share opened in the positive at Rs 58.35 and surged to a high of Rs 67.60, around 19 per cent higher than its previous day's close at Rs 57. This is the biggest intra-day rally in Zomato's share price since its listing on the stock exchanges last year.
The share price of Zomato Limited surged after Q4 result. Zomato on Monday reported a net loss of Rs 359 crore for the quarter ended March 2022, more than double the loss of Rs 134 crore recorded in the corresponding period of the last year.
However, the company's consolidated revenue from operations rose to Rs 1,212 crore in the fourth quarter of 2021-22 as compared to Rs 692 crore recorded in the corresponding period of the previous year, posting year-on-year growth of 75 per cent.
The company's adjusted revenue grew 8 per cent quarter-on-quarter and 67 per cent year-on-year to Rs 1,540 crore in the fourth quarter of 2021-22.
