Tue Jan 21 09:47:22 UTC 2025: ## Zomato Shares Plunge After Disappointing Q3 Results, Triggering Broader Market Decline

**Mumbai, India** – Indian stock markets experienced a significant downturn on Tuesday, with the Sensex plummeting over 830 points and the Nifty falling more than 200 points. This sharp decline followed an initial period of growth. The fall was largely attributed to the continued slump in Zomato shares, which dropped over 12% on Tuesday alone.

Zomato’s disappointing Q3 2024 results, released on Monday, revealed a 57% decrease in profit compared to the previous quarter, reaching just ₹59 crore. While revenue increased by 64%, rising expenses outpaced the growth, contributing to the profit decline. This contrasts sharply with the ₹138 crore consolidated profit reported in the same quarter of the previous year. Zomato’s quick commerce business, Blinkit, also reported a significant loss of ₹103 crore for the quarter.

The stock opened at ₹223 and quickly fell to ₹207 within an hour, a drop of more than 12%. This continues a downward trend since Zomato’s inclusion in the BSE Sensex index on December 23, 2024. The company’s market capitalization fell to ₹1.88 lakh crore on Tuesday.

Zomato’s 52-week high is ₹304.70, while its 52-week low is ₹127. The stock has fallen approximately 21% in the last month, despite delivering a 68.52% return over the past year.

Investors are advised to consult with market experts before making any investment decisions.

Read More