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Zomato Q1 Results: Zomato’s loss comes down to Rs 186 crore, revenue up 67 per cent

Zomato Q1 Results: Some relief news has come for Zomato, which has been in the news due to constant bad news. Zomato has declared the results for the first quarter of 2022-23 April to June. And during this the company’s loss has come down. The loss of the company has come down to Rs 186 crore in this quarter, so there has been a jump of 67 percent in revenue.

Zomato’s revenue has increased by 67.44 percent to Rs 1413.90 crore from Rs 844 crore as compared to the same quarter last year. At the same time, there has been a loss of Rs 186 crore between April and June, which was Rs 359.70 crore between January and March. So in the same quarter of the last financial year, there was a loss of Rs 360.70 crore. The Ebitda loss of the company has come down to Rs 150 crore. According to the company, there has been an increase of 10 percent in the gross order value in the April-June quarter to Rs 6430 crore, due to which there has been a jump in revenue.

However, the results of Zomato have come after the closure of the stock market. Earlier, the stock of Zomato closed at 46.30 percent with a fall of 1.07 percent. This week was very volatile for the stock of Zomato. The share price of Zomato, which brought IPO at Rs 76 per share, had fallen to a low of Rs 40.60. That is, about 47 percent below the price level of the IPO. However, the stock has shown recovery from the lower levels.

There may have been a big fall in the stock of Zomato, but the domestic foreign brokerage house is very bullish about the stock of Zomato. Foreign brokerage houses Jefferies, Credit Suisse and Kotak Institutional Securities are bullish on Zomato’s stock. Kotak advises investors to buy Zomato shares with a target of Rs 79. Jefferies believes that the stock of Zomato can give a return of 130 percent to the investors. According to Credit Suisse, the stock has the potential to go up to Rs 90.

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