Zomato dips 7% on profit booking as loss widens to Rs 347 crore in Q3

Shares of restaurant aggregator Zomato dipped 7 per cent to Rs 50.35 on the BSE in Friday’s intra-day trade on profit booking after the company’s losses widened to Rs 346.6 crore for the quarter that ended in December (Q3FY23).

The food delivery giant had posted a net loss of Rs 67.20 crore in the corresponding quarter of the previous financial year (Q3FY22). It had reported a net loss of Rs 250.8 crore in the September quarter (Q2FY23).

The losses widened nearly 5.5x year-on-year (YoY) owing to the inclusion of Blinkit. This is the first full quarter after the completion of the acquisition of Blinkit.