Zomato Share Price Witnessed Incredible Growth

Shares of Zomato, an Indian multinational restaurant aggregator and food delivery firm, surged on Wednesday.

The food delivery giant’s stock initially dipped nearly 5%, hitting a low of Rs 242.45 due to profit booking following its Q2FY25 result. However, the brand has soon reversed the shares and is currently trading at Rs 260.35 on 23rd October.

Zomato Share Price Today

According to the report, the stock of Zomato is up by 1.62% at ₹260.35. The stock trades at a P/E ratio of 391.80 and a return on equity of 1.76 %. The price levels are estimated at ₹287.00 by the analysts, with a one-year median increase of 10.24%.

So the recent results report shows this stellar 389% profit growth, at Rs 176 crore, compared with Rs 36 crore in last year's quarter. Further, sales at Zomato rose by 68% to Rs 4,799 crore.

Thus, this time, the profits have seen an increase because of higher margins coming from food delivery as well as the fast-speed growth of Blinkit, the quick-commerce business unit.