Zomato shares fall more than 1 pc after Q3 loss widens

Shares of online food delivery platform Zomato fell over 1 per cent in late morning trade on Friday after the company reported widening of net loss for the third quarter.

In late morning trade, the stock of the foodtech giant fell 1.47 per cent to Rs 53.60 on the BSE. On the NSE, it went lower by 1.38 per cent to Rs 53.65.

Meanwhile, the 30-share BSE Sensex was trading 118.15 points or 0.19 per cent lower at 60,688.07.

On Thursday, Zomato reported widening of consolidated net loss to Rs 346.6 crore for December quarter 2022-23, impacted by higher expenses and slowdown in food delivery business.