Zomato shares down 7% on slow growth in Q3
By Lokmat English Desk | Published: February 10, 2023 01:55 PM2023-02-10T13:55:13+5:302023-02-10T13:55:13+5:30
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Shares of 'online' food delivery platform Zomato opened with a fall of more than one percent in early trade on Friday.
The company's shares fell after the third-quarter net loss was reported to widen. Shares of the company fell 1.47 percent to Rs 53.60 on BSE. Shares of the company fell 1.38 percent to Rs 53.65 on the National Stock Exchange.
Meanwhile, the 30-share BSE Sensex was trading at 60,688.07, down 118.15 points or 0.19 per cent.
Zomato on Thursday reported a widening of its consolidated loss to Rs 346.6 crore in the December quarter of the current fiscal, which was hit by higher expenses and slowdown in its food delivery business.
It had posted a loss of Rs 67.2 crore in the third quarter a year ago. However, during this period its operating income increased from Rs 1,112 crore to Rs 1,948.2 crore and total expenses remained at Rs 2,485.3 crore.
