Zomato’s shares jump over 18%, best day after strong quarter

Shares of food delivery firm Zomato Ltd jumped more than 18 per cent on Tuesday and were set for their best session, a day after the Ant Group-backed company recorded more orders and narrowed its losses in the June quarter.

The Gurugram-based company, which operates in more than 1,000 towns and cities, posted a quarterly loss of Rs 186 crore on Monday, compared with a loss of Rs 356 crore last year.

Revenue from operations, which mostly comes from its mainstay food delivery and related fees it charges restaurants for using its platform, rose 67 per cent to Rs 1,414 crore in the three-month period that ended in June 30.