'Zomato' shares: Profits are profits for those who bought 'Zomato'. | Telugu News

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It traded at ₹149.40 with a gain of 3.75%. Investors who bought Zomato shares are celebrating.

'Zomato' shares: Profits are profits for those who bought 'Zomato'.

'Zomato' shares: Starting as a small seed company with a unique concept of food delivery, Zomato's fortunes have grown exponentially. It supplies food across the country employing thousands of delivery boys. Such a company shined in the share market on Friday. Its price jumped 4 percent overnight as investors raced to buy the shares. 52-week high reached. As a result, it posted a net profit of ₹138 crore in the third quarter of the financial year. Zomato reported a loss of ₹347 crore for the same period last year. But this year, Zomato has increased its net profit to ₹283 percent on a quarter-on-quarter basis. Zomato's share prices have risen by more than 121 percent this year compared to last year. Zomato has been recording strong growth in its food delivery business for the quarter ended December 2023. Due to this, investors competed on Friday to buy the company's shares. Shares of Zomato rose to a 52-week high in early trade, up four per cent on face value. Shares of Zomato gained 4.34% to touch a new high of ₹150.25 on BSE.

Zomato posted a net profit of ₹138 crore for the third quarter of the financial year. Zomato reported a loss of ₹347 crore in the same period last year. Zomato's revenue from its food delivery business reached Rs 3,288 crore in the third quarter of the financial year. This is 69% higher than the revenue of Rs 1,948 crore recorded last year. Food delivery gross order value for the company has increased by 25 percent this year compared to last year. Market experts predict that the company is likely to continue on the path of further growth in the context of the expectation to continue development. Shares of Zomato closed with a gain of 2.42% on Thursday after announcing its third quarter financial results. Foreign brokerage firm Jefferies has announced that Zomato expects smart profits with exceptional food delivery.

Bittada has announced that Zomato's growth will be four to ten percent. Zomato's delivery revenue will grow by 25 percent, CAGR said. Zomato's unit economies of scale are steadily improving as consumer willingness to cut costs is increasing, the company says. “Zomato recorded 6.3% quarter-on-quarter growth. However, due to different weather conditions, the growth was lower than the company's own expectations,” said MK Global. Several brokerages believe that Zomato will register growth of over 50 percent year-on-year in the next few quarters. Zomato shares started trading on BSE at 9:20 AM on Friday morning. It traded at ₹149.40 with a gain of 3.75%. Investors who bought Zomato shares are celebrating.

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