Zomato Shares Up 4% After Q3 Profit, Hits Fresh 52-Week High | Stock Market News
Zee Business Video Team | Updated: February 9, 2024 12:24 PM IST
Zomato's share price surged over 4% in early Friday trading, reaching a new 52-week peak following robust Q3 results driven by food delivery growth. The online food delivery platform reported a significant jump in net profit and revenue, with promising prospects for continued growth in gross order value. Analysts at Emkay Global Financial Services praised Zomato's performance across segments, particularly highlighting its food delivery contribution margin improvement and Blinkit's positive trajectory. Zomato shares have soared over 121% in the past year and were trading higher on the BSE.
