Zomato gains ahead of December quarter results: Here’s what to expect in Q3

The food delivery platform is expected to post 68 percent on-year jump in revenue from operations but losses might widen, believe brokerages

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With Paytm achieving operating profitability in Q3, all eyes are now on Zomato’s October-December 2022 quarter results to find out if the new-age tech company can follow in its peers’ footsteps. The food delivery platform is expected to post a 68 percent on-year jump in revenue from operations but losses might widen, according to brokerages.

At 10:15 am, the stock was quoting at Rs 56.10 apiece on the National Stock Exchange, higher by 3.3 percent. A large part of the optimism comes on the back of foreign brokerage CLSA’s ‘Buy’ rating of the stock with a target price of Rs 70.

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According to Kotak Institutional Equities, Zomato‘s revenue from operations might jump 68 percent year-on-year and 12.6 percent sequentially to Rs 1,871 crore, on account of higher deliveries and gross merchandise value.