After a long time, Zomato is back in business. As it's share price has risen to 4% in trade after 52 weeks as the company reported a stunning performance for the end of the last quarter December 2023. There has a massive growth in the food delivery industry over a few months.
Zomato's share was going down from the last 1 year. The share price went down from RS.144 to the lowest RS.46.Today Zomato closed at RS. 150 almost near to its highest price ever on BSE.
Zomato faced a loss of RS 347 CR. in the last financial year in the same period. And now Zomato has declared a profit of RS. 138 CR. in the third quarter. Zomato has earned a net profit of 283% on QOQ.
Zomato made a very progressive growth in the food delivery market. Introducing Blinkit was a great move by Zomato. Blinkit helped Zomato to regain the market that was slipping from the hand of Zomato.
People Who bought shares at the lowest price RS. 46 in January 2023 Today the value of those shares is more than 3 times i.e., RS.150. According to reports Zomato share price is likely to grow more in the next few quarters. After looking at the graph it comes out that the price of Zomato shares has a growth of 121% in the last year.
Investors who sold the shares of Zomato might be thinking of having some more faith in the company. Online food delivery orders placed have risen by more than 20% in the last year. The hard work and Smart Work of Zomato has finally paid paid-off. Be it Sending regular notifications with different cheesy and eye-catching messages or delivering food on time and with more caution, Zomato has done it all well.
It's back in the market with a bang as it started doing business in the online food delivery market leaving behind all the other food delivery partners.
We always advise all the investors be the new to stock market always do your research before investing your money in any share or stock or take advise from experts to keep your money safe. As risk is always involved in the share market.