Zomato shares jump nearly 11% after Q1 earnings

Shares of online food delivery platform Zomato on Tuesday jumped nearly 11 per cent after the company’s consolidated net loss in the first quarter of the current financial year almost halved.

The stock climbed 10.67 per cent to Rs 51.80 on the BSE. At the NSE, it zoomed 10.79 per cent to Rs 51.30.

Zomato on Monday said its consolidated net loss in the first quarter of the current financial year almost halved to Rs 186 crore due to higher income.

The company had reported a net loss of Rs 360.7 crore in the year-ago period.