Shares of Zomato continued to extend decline as it plummeted to an all-time low level of ₹75 on the BSE in Tuesday’s deals, falling below the IPO issue price of ₹76. The stock is down over 41% in a month.
Last week, Zomato’s Q3 loss narrowed, helped by a one-time gain, while revenue jumped due to increased demand for restaurant meals. The food delivery platform reported a consolidated net loss of ₹67 crore, boosted by a one-time gain of ₹315.8 crore from the sale of stake in sports platform Fitso.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
