Zomato share price plunges over 9% after Q3 PAT slumps 57% YoY

Zomato share price slumped over 9% on Tuesday’s session following weak Q3 results. Zomato announced on Monday that its consolidated net profit for the December quarter fell by 57.2% to ₹59 crore, as its margins were impacted by rapid store expansion to accommodate orders from its quick-commerce service, Blinkit. In the same period last year, the company reported a net profit of ₹138 crore.