Zomato shares rally 8% to cross Rs 100 mark, hit 52-week high

Shares of food delivery platform Zomato rallied 8% and crossed the Rs 100 mark in Monday’s trade on BSE. The stock has also hit a new 52-week high at Rs 102.8.

Zomato shares saw a jump after the firm turned profitable in Q1 FY24. Zomato reported a consolidated net profit of Rs 2 crore for the quarter ended June 2023 against a loss of Rs 186 crore in the corresponding quarter of the last financial year. The company also reported a loss of Rs 189 crore in the quarter ended March.