Shares of Zomato climbed 2.55 per cent in morning trade on Monday, after the company’s consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth.
The stock gained 2.51 per cent to Rs 66.16 a piece on the BSE.
At the NSE, it climbed 2.55 per cent to Rs 66.15 a share.
The company had posted a consolidated net loss of Rs 359.7 crore in the same period of the previous fiscal, Zomato said in a regulatory filing on Friday.
Its consolidated revenue from operations during the period under review stood at Rs 2,056 crore, against Rs 1,211.8 crore in the year-ago period.
The total expenses in the fourth quarter were higher at Rs 2,431 crore, compared to Rs 1,701.7 crore in the corresponding period a year ago, the company said.
For the fiscal ended March 31, 2023, the consolidated net loss was Rs 971 crore, down from a consolidated net loss of Rs 1,222.5 crore in 2021-22.
In FY23, consolidated revenue from operations stood at Rs 7,079.4 crore compared to Rs 4,192.4 crore in FY22, the company said in the filing.