Akshata Sharma
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A day after announcing strong results for the first quarter of the financial year 2024-25 (Q1 FY25), foodtech major Zomato's bull run on the bourses brought its market capitalisation closer to the $30 Bn mark
While the share prices surged to a fresh 52 week high of INR 278.45 in early trading hours today (August 2), the startup's market cap touched $28 Bn. The share prices lost some gain by 2:10 PM, standing at INR 265 with the startup's market cap at $27.93 Bn (INR 2,33,782.71 Cr).
Post Q1 FY25 disclosure, the company's value has increased over 18% from last week's close of $23.66 Bn. The gains come due to the company's streak of five consecutive profitable quarters.
Marking its maiden profitable quarter in Q1 FY24 with a profit after tax (PAT) of INR 2 Cr, the company has been able to significantly multiply its fortunes since.
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