Zomato Shares Drop Nearly 4%

New Delhi: Shares of food tech unicorn Zomato on Monday declined nearly 4 per cent after the firm reported 57.2 per cent drop in consolidated net profit for the December quarter. The stock dropped 3.14 per cent to settle at Rs 240.95 on the BSE. During the day, it tanked 8 per cent to Rs 228.80. At the NSE, it went lower by 3.63 per cent to Rs 239.75. Zomato on Monday report-ed 57.2 per cent drop in consolidated net profit for the December quarter to Rs 59 crore, with its margins facing pressure due to aggressive store expansion to meet orders from its quick-commerce platform Blinkit.