The Zomato share price is making waves, surging by an impressive 12% in early trade following its remarkable Q1 results. Starting at ₹89 and reaching a high of ₹98.39, the stock is holding steady at ₹96.23, marking a gain of ₹10 or 11.61%.
In Q1 FY24, Zomato reported a net profit of ₹2 crore, a notable shift from the ₹186 crore loss in the previous year. Revenues also climbed to ₹2,416 crore, up from ₹1,414 crore.
Since its debut on NSE and BSE in July 2021, Zomato has been a noteworthy player, joining the ranks of modern digital ventures like Policybazaar, Nykaa, and Makemytrip.
Zomato Share Price Surges 12% After Q1 Profits: A Delectable Financial Feast
With an upbeat outlook, financial experts at Emkay foresee a harmonious future for Zomato, anticipating a 13-22% increase in revenue for FY24-26E. Their BUY recommendation, with a target price of Rs110, reflects Zomato’s potential.
As with any investment, seeking expert guidance is key. The financial world, like a complex composition, requires careful navigation.
In the grand financial symphony, the Zomato share price stands as a significant note, contributing to the overall melody.
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