Zomato shares closed at INR 64.95 on Tuesday despite widening of net loss to INR 1,222.5 Cr in FY22
Paytm shares also gained 4.32% on the BSE, closing at INR INR 646.80
Logistics unicorn Delhivery made its stock market debut, and closed 10.3% higher than the issue price
Shares of foodtech giant Zomato rose nearly 14% on the BSE on Tuesday (May 24), a day after the startup reported widening of its net loss for financial year 2021-22 (FY22) to INR 1,222.5 Cr from 816.4 Cr in the previous financial year.
The shares opened at INR 58.35 and reached an intraday high of INR 67.60, before finally settling 13.95% higher at INR 64.95.
On Monday, the food aggregator reported its financial results for FY22 and January-March quarter of the year. Its revenue from operations rose to INR 4,192.4 Cr in FY22 from INR 1,993.8 Cr in FY21. For Q4, net loss rose to INR 359.7 Cr from INR 134.2 Cr in the year-ago quarter and INR 67.2 Cr in October-December 2021 quarter.
The startup said it is being aggressive about conserving cash.
From a record high market capitalisation of INR 1 Lakh Cr in July last year, Zomato’s market capitalisation has declined to INR 51,139.39 Cr. In the last one month, Zomato shares have plummeted by more than 17%.
Meanwhile, shares of One97 Communications, the parent company of fintech player Paytm, also gained 4.32% on the BSE on Tuesday, ending at INR 646.80.
This was the second consecutive day of gains for the fintech major. On Monday, the stocks soared 7.7% as two brokerages upgraded the target price for the stock after the startup declared its financial results on Friday.
Logistics unicorn Delhivery also made its stock market debut on Tuesday, listing at a premium of 1.2% over its issue price on the BSE and the NSE. The stock opened at INR 493 and rose to INR 568.90. Later, it lost some of its gains to close at INR 537.25.
Among other listed new-age tech startups, shares of PB Fintech, the parent company of fintech player PolicyBazaar, closed 0.58% higher at INR 698.60, while shares of ecommerce player Nykaa declined 4.04% to INR 1,399.85 on the BSE.
