Shares of Zomato slipped over 3 per cent ahead of the firmтАЩs September quarter earnings set to be announced today. The stock fell 3.29 per cent intraday to Rs 63.15 on BSE. The share opened almost flat at Rs 65.40 against the previous close of Rs 65.30. Shares of Zomato were trading higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. The large cap stock has fallen after three days of consecutive gain. ┬аThe stock has lost 53.11 per cent in one year and declined 53.69 per cent since the beginning of this year. Market cap of the firm fell to Rs 54,412 crore on BSE.┬а
Total 30.71 lakh shares changed hands amounting to a turnover of Rs 19.76 crore on BSE. The share hit a 52-week high of Rs 169.10 on November 16, 2021 and a 52-week low of Rs 40.55 on July 27, 2022.
Zomato shares have surged 36 per cent or by Rs 16.8 since the earnings for the quarter ended June were announced on August 1 this year. The stock ended at Rs 46.85 on July 29, 2022, a day before the Q1 earnings were announced.
For the quarter ended June, the food delivery firmтАЩs quarterly loss narrowed led by an increase in orders for restaurant meals on its platform. Zomato clocked a net loss of Rs 186 crore in Q1 against a net loss of Rs 356 crore year ago. Revenue from operations climbed 67.44 percent to Rs 1,413.9 crore in Q1 against Rs 844.4 crore logged in the year-ago quarter.┬а
The online food platform is expected to trim losses in the September quarter on a sequential and year-on-year basis. ┬а┬а
Kotak Institutional Equities sees Zomato reporting a loss of Rs 149.20 crore in Q2 compared with a loss of Rs 185.70 crore in June. The firm reported a loss of Rs 435.10 crore in the September quarter of last fiscal. The brokerage sees a 48.2 per cent YoY rise in sales to Rs 1,517.90 crore against Rs 1,024.20 crore in the year-ago quarter.┬а
Edelweiss expects Zomato to post a loss of Rs 165.20 crore in Q2. ┬аHowever, quarterly revenue is likely to surge 50 per cent to Rs 1,538 crore, up 50 per cent. JM Financial has pegged Zomato’s loss at Rs 151.40 crore in the September quarter. Profitability is expected to improve with adjusted EBITDA loss falling 210 basis points sequentially and 21.8 percentage points YoY.
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