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Zomato shares give up intra-day gains to settle lower on profit booking
Shares of Zomato pared all intra-day gains and ended lower amid fag-end selling at the counter on Monday as investors indulged in profit-taking even as its net loss narrowed in the fourth quarter.
The stock climbed initially but finally settled 1.50 per cent lower at Rs 63.57 on the BSE. During the day, it jumped 3.57 per cent to Rs 66.85.
The company's consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth.
At the NSE, it fell 1.55 per cent to settle at Rs 63.50 after climbing 3.64 per cent to Rs 66.85 during the day.
In traded volume terms, 112.11 lakh shares of the firm were traded at the BSE and over 14.70 crore shares at the NSE during the day.
Its consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth.
The company had posted a consolidated net loss of Rs 359.7 crore in the same period of the previous fiscal, Zomato said in a regulator