Zomato hits 21-month high on strong Q2 results; zooms 139% since April

The stock has rallied 13 per cent in tpast two trading days after the company reported its second consecutive quarter of consolidated net profit

Shares of Zomato hit a 21-month high of Rs 121.95 as they rallied 5 per cent on the BSE Monday's intraday trade after the company reported its second consecutive quarter of consolidated net profit.

The food delivery platform clocked profit after tax of Rs 36 crore during the second quarter of financial year 2023-24 (Q2FY24), up from Rs 2 crore in the previous quarter (Q1FY24). The new-age company had reported a net loss of Rs 251 crore during the corresponding period last year (Q2FY23).

The stock has rallied 13 per cent in the past two trading days. It