Share price of Zomato turned volatile on Friday after it reported loss in Q3 FY23 that divided analysts. Zomato, on Thursday, reported a loss of ₹347 crore in the quarter ending December 31, 2022, as against a loss of ₹251 crore reported in the previous quarter. This loss was against an operational revenue of ₹1,948 crore in Q3 FY23 (₹1,661 crore) and ₹1,112 crore in operational revenue in Q3 FY22. Domestic brokerage JM Financial was the most bullish among them, with a target price of ₹126. For Nomura, it was “Reduce” with a target price of ₹50, as gross order value growth “disappointed”.

Source: The Hindu February 11, 2023 03:56 UTC