This E-commerce company surged by 13 per cent after reported Q1 results!

Today it has hit fresh 52 week high and over the past one year shares of company has increased by 68 per cent.

Zomato Limited is one of the leading online food Service platforms in terms of the value of food sold. Its offerings include food delivery, dining-out services, loyalty programs, and others it has declared financial results for the quarter end June 30, 2023 or Q1FY24 yesterday after the market closer.

For Q1FY24 on a consolidated basis in comparison to the same quarter last year the company's net profit, increased by 101.08 per cent to Rs 2 crore from a net loss of Rs 186 crore. In Q1FY24, the company's net revenue increased by 64.16 per cent from Rs 1582 crore to Rs 2227 crore in a similar quarter the year prior.    

Sequentially the company's net profit for the quarter which ended on June 30, 2023, increased by 101.06 per cent from net loss of Rs 188 crore. In Q1FY24, the company's total net revenue increased by 16.61 per cent from Rs 2227 crore in the similar quarter the year prior.

The company's food delivery segment has increased its profit, while other segments like B2B supplies and Quick Commerce have managed to reduce their losses, which is why they showed improvements in this quarter.

In the last trading session, the scrip closed at Rs 86.22. Today it opened at Rs 89 and currently, it is trading at Rs 97.60, up by 13.20 per cent. Today it has hit fresh 52-week high at Rs 98.39 and it has a 52-week low of Rs 44.35. The company has a market cap of around Rs 83,800 crore. Over the past one year it has given a return of 67.93 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.