Shares of online food delivery platform Zomato rallied nearly 14% on Friday after the company announced that it had narrowed its consolidated net loss to ₹250.8 crore in the second quarter.
The stock rose 13.84% to close at ₹72.80 apiece on the BSE.
On the NSE, it zoomed 13.6% to end at ₹72.65 apiece.
In volume terms, 3.19 crore shares were traded on the BSE and over 39 crore units were on the NSE during the day.
The company’s consolidated net loss stood at ₹434.9 crore in the year-earlier period.
Revenue from operations increased to ₹1,661.3 crore during the July-September quarter against ₹1,024.2 crore in the corresponding period of the previous financial year.
The company said this is the first quarter where it has crossed the billion-dollar annualised revenue mark.
However, its total expenses also rose to ₹2,091.3 crore during the quarter under review from ₹1,601.5 crore a year earlier.
