Zomato’s Stock Price Has Soared By More Than 5% Of Quarterly Earnings After June.

by Jyotiyadav August 11, 2021 0 Comment

Zomato reported that as its dining out business was affected by Covid-19, the net loss for the June quarter of 2021 was 3.56 billion rupees, compared with a loss of 9.98 billion rupees in the same period last year.

One day after the company reported an increase in net loss for the June 2021 quarter, Zomato’s stock price soared nearly 5% in a weak market. Zomato reported a net loss of 3.56 billion rupees for the quarter. In comparison, the loss in June 2021 was 99.8 million rupees. During the previous year, the company’s dining out business was affected by the Covid-19 pandemic. As of 11:30 in the morning, Zomato shares were trading at 131.75 rupees on the BSE, an increase of 5.44%.

The operating income of newly listed companies in the first quarter of this fiscal year was Rs 8.44 billion, compared with Rs 2.66 billion in the same period last year.

This is the first quarterly earnings update for the largest food aggregator in the United States since its debut on the stock exchange last month. Last month, Zomato’s trading premium on the exchange was 53%, and subsequently achieved a market value of 1.08 billion rupees on the BSE.

BSE Sensex reported 54,271.75, down 280 points, or 0.51%, and NSE Nifty, reported 16,196.10, down 85.30 points, or 0.52%.

Zomato’s Stock Price Has Soared By More Than 5% Of Quarterly Earnings After June.

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Zomato’s Stock Price Has Soared By More Than 5% Of Quarterly Earnings After June.

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