Zomato touches record low; slides 30% in five days

Zomato tumbled 18.15% to Rs 93, extending its losing run to fifth consecutive trading session.

Shares of Zomato have declined nearly 30.5% in five trading sessions from its previous closing high of Rs 133.95 posted on 17 January 2022. The counter has fallen 45% from its 52-week high of Rs 169.10 hit on 16 November 2021. The stock hit an all-time low of Rs 91.70 in intraday today.

In one month, the stock has fallen 29.2% as compared to a 0.28% rise in Nifty 50 index.

Zomato is one of the leading Food Services technology platforms in India in terms of value of food sold, as of 31 March 2021.

On a consolidated basis, the food delivery company reported a net loss of Rs 434.90 crore in Q2 FY22 as against a net loss of Rs 229.80 crore in Q2 FY21. Net sales surged 140.40% to Rs 1,024.20 crore in Q2 FY22 over Q2 FY21. Adjusted revenue in Q2 FY22 stood at Rs 1,420 crore ($189 million), recording a 22.6% growth quarter-over-quarter (Q-o-Q) and 144.9% growth year-over-year (Y-o-Y).

Shares of Zomato entered bourses on 23 July 2021. The scrip was listed at a price of Rs 115, a premium of 51.32% to the issue price of Rs 76 per share. The initial public offer (IPO) of online food delivery platform Zomato received bids for 2,751.27 crore shares as against 71.92 crore shares on offer. The issue was subscribed 38.25 times.

Powered by Capital Market - Live News