Zomato stock rises 3% as Q4 loss narrows. Should you buy or sell now?

After food delivery platform Zomato posted a narrowing of losses in Q4FY23, the company’s shares rose nearly 3% on Monday.

Zomato trimmed its January – March quarter losses to Rs 188 crore from Rs 360 crore a year ago, and Rs 345 crore a quarter ago. The consolidated revenue increased a whopping 70% YoY to Rs 2,056 crore. The net loss was much lower than the estimated Rs 356 crore.

The revenue, however, was a tad lower than the estimated Rs 2,122 crore. In FY23, Zomato’s loss narrowed to Rs 971 crore from Rs 1,209 crore a year ago. Revenue increased 69% to Rs 7,079 crore.