Zomato Shares Drop As Losses Swell, Analysts Maintain ‘Reduce’ Rating
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Shares of Zomato Ltd. declined the most since Jan. 25 after the company reported widening losses sequentially as Blinkit continued to bleed. However, its core offering of food delivery neared adjusted Ebitda profitability, the company said.The Gurugram-based restaurant aggregator’s third-quarter net loss widened to Rs 346.6 crore from a loss of Rs 250.8 crore in the previous quarter. That compares to the Rs 321.21 crore estimated by …
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