Zomato soars 13% on heavy volume as net loss narrows to Rs 251 cr in Q2

Shares of Zomato soared 13 per cent to Rs 72.55 per share in Friday’s intra-day trade, amid heavy volumes, after the food delivery aggregator's net loss narrowed to Rs 251 crore for the September quarter (Q2FY23), as against Rs 429.6 crore, in the year-ago period.

The company's revenue, too, increased 62.2 per cent year-on-year (YoY) to Rs 1,661 crore in Q2FY23 as against Rs 1,024 crore in Q2FY22. Zomato’s food delivery gross order value, meanwhile, grew 3.1 per cent QoQ and 22.6 per cent YoY in Q2FY23.

Since the acquisition of Blinkit (quick commerce) closed on August 10, 2022, only