Zomato shares ends 2% lower after Q3 loss widens

In volume terms, 1.25 crore shares of Zomato were traded on the BSE and over 17 crore shares on the NSE during the day.

Shares of online delivery platform Zomato ended 2 per cent lower on Friday after the company reported widening of net loss for the third quarter.

The stock of the foodtech giant declined 2.02 per cent to close at Rs 53.30 apiece on the BSE. During the day, it plunged 7.4 per cent to Rs 50.35 per share on the bourse.

On the NSE, it went lower by 1.65 per cent to settle at Rs 53.50 per scrip.

In volume terms, 1.25 crore shares of the company were traded on the BSE and over 17 crore shares on the NSE during the day.

Meanwhile, the 30-share BSE Sensex benchmark ended 123.52 points or 0.20 per cent lower at 60,682.70 points on Friday.

On Thursday, Zomato reported widening of consolidated net loss to Rs 346.6 crore for December quarter 2022-23, impacted by higher expenses and slowdown in food delivery business.

It had posted a loss of Rs 67.2 crore in the same quarter last fiscal year, the company said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 1,948.2 crore as against Rs 1,112 crore earlier.

Total expenses were at Rs 2,485.3 crore in the third quarter, it added.