
Zomato shares hit fresh 52-week high on strong Q2; zoom 170% in 9 months
Zomato reported a consolidated net profit of ₹36 crore in Q2FY24, compared with profit of ₹2 crore in June quarter of FY24 and a loss of ₹251 crore in Q2FY23.
Zomato reported a consolidated net profit of ₹36 crore in Q2FY24, compared with profit of ₹2 crore in June quarter of FY24 and a loss of ₹251 crore in Q2FY23.
Tiger Global, through its investment vehicle Internet Fund IV, sells 12.34 crore shares, or 1.44% stake in Zomato, at an average price of ₹91.01 per share.
Zomato's net profit stood at ₹2 crore for the first quarter compared to a loss of ₹186 crore in the year-ago period.
Most Blinkit stores have now resumed operations, says Zomato
Blinkit delivery executives went on strike last week, demanding the rollback of recent changes made to delivery incentive structures in Delhi NCR.
Quick commerce players offer the lowest discounts due to their focus on convenience.
Zomato’s Q3 loss widened to ₹346.6 crore in Q3 FY23, against a loss of ₹63 crore in the year-ago period and ₹250.8 crore loss in Q2 FY23.
According to a recent report by Nuvama Institutional Equities Research, 10% of HUL's ice cream sales in Q2 of FY23 came from quick commerce.
The net loss of the food and grocery delivery platform widened due to sharp rise in expenses, which spiked to ₹9,748.7 crore, from ₹4,292.8 crore a year ago.
After offering 10-minute grocery delivery, and printout services, Zomato-owned Blinkit comes up with iPhone 14 delivery service