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Zomato Ltd’s lower adjusted Ebitda for the quarter ending December (Q3FY23) has failed to impress the Street. The company noted a slowdown in the food delivery business post Diwali and the growth in key metrics has been subdued. The gross order value in the food business was up by a mere 0.7% sequentially. This compares […]
Even as online food delivery platform Zomato’s net loss widened for the third quarter ended December 2022 due to higher expenses and slowdown in food delivery business, it posted a better-than-expected rise in revenue and said its core earnings briefly turned positive in January, helped by an increase in orders. Order volumes at food delivery […]
Foodtech giant Zomato Ltd’s consolidated loss widened to ₹346.6 crore on-year for the quarter ended December (Q3FY23) as against a loss of ₹63 crore in the year-ago period. The online food delivery platform had posted a net loss of ₹250.8 crore in the previous September quarter. Revenue from operations rose 75% to ₹1,948 crore for […]
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After Deepinder Goyal, the founder of the food conglomerate Zomato, congratulated Paytm and its founder Vijay Shekhar Sharma on their Q3 results report, Zomato shares surged by more than 9% on the NSE at closing today. Zomato’s stock began trading today at ₹51.20, reached an intraday high of ₹55.30 and a low of ₹51.10, and […]
E-commerce food delivery giant, Zomato witnessed heavy selling pressure on Friday tracking a sharp bearish tone in broader markets. Also, large deals in Zomato shares exchanged hands further dragging the performance. Zomato stock today dipped by nearly 10% on BSE. However, this would be the third-day drop in a row in the company’s stock. In […]
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Zomato with its large strong footprint across 23 countries, is well placed to benefit from the immense potential in the food delivery industry. The business is not losing cash anymore and adjusted EBITDA broke-even in food business, said domestic brokerage and research firm Motilal Oswal. At company level, goal is to break-even in Q4FY23, or […]
Singapore state-owned investment company Tamesak through its wholly-owned subsidiary Camas Investments Pte his picked up stake in Zomato on Wednesday, November 30, 2022. On the same day, Alipay Singapore, an arm of chinese e-commerce giant Alibaba sold stake in online food delivery aggregator for ₹1,631 crore through an open market transaction. Camas Investments Pte, an […]
Alipay Singapore, an arm of Alibaba Group Holding Ltd, sold 3.07% stake in online food delivery giant Zomato for ₹1,631 crore via an open market transaction on Wednesday. Alipay Singapore Holding Pte offloaded around 26,28,73,507 shares, aggregating to 3.07% stake in the firm, according to the bulk deal data available with the National Stock Exchange […]
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Chinese e-commerce giant Alibaba Group Holding Ltd is planning to sell a stake of around 3% in food delivery platform Zomato Ltd worth $200 million through a block deal, Reuters quoted a report as saying on Tuesday. Wall Street brokerage Morgan Stanley would be the broker to the deal, according to reports. The block deal […]
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Zomato’s gross merchandise value (GMV) in food ordering in the first of the year (H1 CY22) stood at 56%, which outgrew Swiggy at 40%. Based on brokerage Ambit’s calculation, Zomato had a around 55% market share versus Swiggy in food ordering. “Given Swiggy has to do a tightrope walk of not losing market share but […]
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