Zomato’s share price experienced a remarkable surge on Monday, increasing by more than 7% in response to the company’s announcement of its first-ever net profit for the first quarter of FY24. The food delivery platform’s share price skyrocketed to a new 52-week high of ₹102.85 per share on the BSE.
The significant rise in Zomato’s share price followed the positive news of the company’s Q1 net profit, which boosted investor confidence and enthusiasm. At the time of writing this report at 2 pm, Zomato shares were still trading strongly, recording a gain of over 4%, with each share valued at ₹99.92.
This development highlights the company’s ongoing growth and success in the competitive food delivery industry, leading to renewed interest from investors and stakeholders. Zomato’s performance in the market has generated optimism for its future prospects, capturing the attention of both existing and potential investors.
