Zomato Shares Soar 12% After Reporting Multi-Fold Profit Jump

Zomato's shares surged over 12% after the company reported a significant increase in consolidated net profit to Rs 253 crore for the June quarter. The company's stock hit a 52-week high and its market capitalization rose significantly. Zomato's revenue from operations also saw a 74% increase.

Shares of Zomato zoomed more than 12 percent on Friday following the food delivery aggregator's impressive financial results for the June quarter. The company reported a multi-fold jump in consolidated net profit to Rs 253 crore.

On the National Stock Exchange (NSE), Zomato's stock surged 12.24 percent to close at Rs 262.74 per piece, reaching a 52-week high. Similarly, on the BSE, it climbed 12.11 percent to settle at Rs 262.45 per piece.

In intra-day trade, Zomato shares advanced by up to 19 percent. By the end of the trading session, the company's market capitalization (mcap) stood at Rs 2.31 lakh crore, a rise of Rs 25,024.51 crore on the BSE. The revenue from operations also grew by more than 74 percent, amounting to Rs 4,206 crore in Q1 FY25 compared to Rs 2,416 crore in the same period last year.