Zomato Turns Profitable, Share rise 12%
1 min read
The Food Delivery company Zomato posted Profit for the first time. Zomato Stock gave 11% Return after the Q1 Result. Zomato Stock trading at 96 Rs level.
Company Posted 2597 Crore Income in June 2023 Quarter While Last Year same quarter they posted 1582 Crore Income. For the 1st Time Company Posted 2 Crore Profit while last year same quarter company posted 186 Crore Loss.
Company took some hard decision to be profitable. Last Quarter, Zomato Stopped Operations in those cities which didn’t make good revenue. Zomato Stopped Operations in almost 225 Cities.
In Year 2021, Zomato Introduce IPO at 76 Rs Level. In Last 1 Year, Zomato gave 66% return to it’s investors.
