Zomato shares decline nearly 4% post Q4 earnings announcement

New Delhi: Shares of online food delivery firm Zomato Ltd on Monday declined nearly 4 per cent on a day the company announced its March quarter earnings.

The stock went lower by 3.82 per cent to settle at Rs 193.70 on the BSE. During the day, it declined 7.19 per cent to Rs 186.90.

At the NSE, shares of the company dipped 2.30 per cent to Rs 196.65.

In traded volume terms, 101.11 lakh shares of the firm were traded at the BSE and 1,141.36 lakh equities on the NSE during the day.

Zomato Ltd on Monday reported a consolidated net profit of Rs 175 crore in the March quarter on the back of higher revenue.

The company had posted a consolidated net loss of Rs 188 crore in the same quarter last fiscal, Zomato Ltd said in a regulatory filing.

Consolidated revenue from operations stood at Rs 3,562 crore. It was Rs 2,056 crore in the year-ago period, it added.

Total expenses were Rs 3,636 crore. The company posted its total expenses at Rs 2,431 crore in the corresponding period a year ago, it said.

For the fiscal ended on March 31, 2024, the consolidated net profit was Rs 351 crore. It had posted a consolidated net loss of Rs 971 crore in the previous fiscal ended on March 31, 2023, the filing said.

In FY24, consolidated revenue from operations stood at Rs 12,114 crore. It was at Rs 7,079 crore.

The results for the year ended March 31, 2024, are not comparable with the year ended March 31, 2023, due to the acquisition of Blink Commerce Pvt Ltd (formerly known as Grofers India Pvt Ltd) in June 2022, the filing said.