Zomato's Shares Rally 13% On Narrower Quarterly Loss Report

Shares of Zomato Ltd jumped 13 per cent on Friday, a day after the food delivery company reported a narrower loss for the second quarter due to a rise in volumes and of online orders.

The company' shares rose as much as 13% to 72.25 rupees in early trading, to hit their highest since June 27.

Zomato's consolidated net loss narrowed to 2.51 billion Indian rupees ($30.73 million) in the July-September quarter, from 4.30 billion rupees a year earlier.

Excluding figures for its recently acquired quick-commerce business Blinkit, Zomato's loss was 600 million rupees.

It's gross order , the total of all food delivery orders placed online on Zomato's platform, jumped nearly 23 per cent.