Zomato shares down 33% from all-time high level; should you add?
Shares of Zomato Ltd extended their fall for the third consecutive session in Wednesday’s trade. The stock slipped 5.05 per cent to hit a day low of Rs 203.80. At this price, it has corrected 33.07 per cent from its record high level of Rs 304.50, seen December 5 last year.
The quick-commerce stock started falling after posting a 57.24 per cent drop, year-on-year (YoY), in its consolidated net profit for the December 2024 quarter (Q3 FY25). During the quarter under review, profit slipped to Rs 59 crore from Rs 138 crore in the year-ago period. However, revenue from operations surged 64.39 per cent to Rs 5,405 crore in Q3 FY25 as against Rs 3,288 crore in the corresponding period last fiscal.
Zomato said its bottomline (adjusted…
