support@headlinenews360.com
Zomato Share Crash: Due to the disappointing results of online food delivery company Zomato, the stock has opened with a sharp decline. Zomato shares fell 9 percent to Rs 218.95, which had closed at Rs 239.75 in the previous session. On Monday, January 20, Zomato announced the results for the third quarter of 2024-25 and the company’s profit in this quarter declined by 57.2 percent to Rs 59 crore, which was Rs 138 crore in the same quarter of the last financial year.
Due to announcing disappointing results, the stock of Zomato, which has given multibagger returns to its investors in the stock market, opened with a decline of about 8 percent on Tuesday, January 21, 2025, at Rs 223 and slipped down to Rs 218.95. Currently the share is trading at Rs 220.25 with a decline of 8.13 percent. In the month of January 2025, the stock has declined by 21 percent. Whereas the stock has given multibagger returns of 330 percent to its shareholders in the last 2 years. In recent times, many brokerage houses have also advised investors to buy Zomato stock.
Along with declaring the quarterly results, Zomato said in a letter to its shareholders that at present it is facing a slowdown in demand, which has started from November 2024. The demand for food delivery has also decreased.
The net profit of Blinkit’s parent company Zomato has declined by 57.2 percent to Rs 59 crore in the third quarter of the current financial year 2024-25. The company’s net profit in the third quarter (October-December) of the last financial year 2024-25 was Rs 138 crore. The company’s operational revenue during the quarter stood at Rs 5,405 crore, whereas it was Rs 3,288 crore in the October-December quarter of the last financial year 2023-24. The company said that its total expenses in this quarter have increased to Rs 5,533 crore from Rs 3,383 crore in the same period of 2023-24.
Also read:
