Heavy buying: This E-commerce stock reported 65 per cent growth in net revenue for Q4FY23!

The company has shown growth in net revenue FY23 and in paths of becoming break even.

As the season of financial results is underway, Zomato Ltd has reported its results for the fourth quarter that ended on March 31, 2023.

In comparison to the same quarter last year, the company's total revenue for the fourth quarter, which ended on March 31, 2023, increased by 64.92 per cent to Rs 2,226.5 crore from Rs 1,350 crore on a consolidated basis. In Q4FY23, the company's total net loss decreased from Rs 359.7 crore to Rs 187.6 crore in the same quarter of the previous year.

The company reported a 38.18 per cent increase in net revenue for the year ended March 31, 2023, from Rs 4,687.3 crore to Rs 7,760.9 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company's net loss decreased from Rs 1,222.5 crore to Rs 971 crore.

In the shareholder presentation, the company stated its aim to break even in the next 3-5 quarters.

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On May 18, 2023, the stock closed at Rs 63.55. Yesterday, it opened at Rs 63.95 and closed at Rs 64.54. A total of 32,46,465 shares were traded over the counter at BSE. The company has a market cap of approximately Rs 55,350 crore, with a 52-week high of Rs 79.80 and a 52-week low of Rs 40.55.

Incorporated in 2010, 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. As of December 31, 2020, Zomato has established a strong presence across 23 countries, with 131,233 active food delivery restaurants, 161,637 active delivery partners, and an average monthly food order of 10.7 million customers.