Zomato shares fall 6% after Q4 results but brokerages hike target price: Should you buy?

Zomato share price: The share price of food delivery platform Zomato fell 6% today (May 14) after the company announced its Q4 results- a consolidated net profit of ₹175 crore in the fourth quarter of FY24 against a loss of ₹188 crore in the same period a year ago. Zomato’s net profit grew 27% from ₹138 crore posted in the December quarter and its revenue from operations in Q4FY24 increased 73% to ₹3,562 crore. Analysts maintained their bullish view on Zomato shares as some raised the target price on the stock.