Why has Zomato plunged 6% a day after Q4 numbers? We get you top investment strategies for the stock

In Wednesday’s trading, shares of the food delivery giant Zomato faced a notable setback, plummeting by 6% during the opening trade. This decline followed the company’s disclosure of its Q4 results earlier in the week. Zomato’s share price experienced a sharp drop of 6.27%, hitting an intraday low of Rs 182.10 on the NSE.

In the fourth quarter of FY24, the food delivery platform Zomato reported a consolidated net profit of Rs 175 crore, a significant turnaround from the Rs 188 crore loss recorded in the same period a year ago. Notably, the net profit exhibited a notable 27% growth from the Rs 138 crore reported in the December quarter.