Today Zomato Shares surge 15% after June earnings announcement. The stock rise 14.89 % to reach to Rs 311.60 at the Bombay Stock Exchange (BSE), marking its 52-week high. On the National Stock Exchange (NSE), it rose 14.55 % to hit a high of Rs 311.25.
The rally comes a day after the stock received almost 6 % on Monday, continuing a strong upward trend. Eternal also emerged as the top performer amongst Sensex and Nifty materials during morning trading. It reflects robust investor confidence in the company’s growth strategy.
Zomato Shares Surges, Marks 52 time high
Eternal posted a net earnings of Rs 25 crore for the April-June quarter. While the figure decreased significantly decrease than the Rs 253 crore said in the same period last year. The company attributed the decline to ongoing investments in its quick commerce and out-of-home segments.
The company clear that the financials aren’t similar to the previous year’s quarter due to strategic acquisitions. In August 2024, Eternal completed the acquisition of Orbgen Technologies Pvt Ltd and Wasteland Entertainment Pvt Ltd, corporations that manage film ticketing and live activities, respectively, from One 97 Communications Ltd, the parent company of Paytm.
Eternal’s Q2 Sales Jump to ₹7,167 Crore
A main highlight is upward push in short-term trade demand. Eternal mentioned sales from operations of Rs 7,167 crore, a sharp increase from Rs 4,206 crore in the year-ago period. Notably, for the first time ever, the net order value (NOV) from short trade exceeded that of Zomato Shares for the complete zone, signaling a shift in customer behavior and a developing urge for food for fast delivery services.
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