Zomato Share Price in Focus As It Fall for 5th Day, Drops 11%

Zomato share price has been falling for 5 consecutive trading sessions due to weak market sentiment. Over the past 5 days, the stock has lost more than 11.23%.

On Tuesday, Zomato’s stock dropped another 5%, hitting an intraday low of ₹200 on the National Stock Exchange (NSE).

Stock Market Trends

The Indian stock market opened in the red on March 11. The BSE Sensex fell to 73,668 before recovering slightly. By 11:23 AM, the Sensex was down 188 points (0.25%) at 73,927.15, while the NSE Nifty 50 gained 33 points (0.15%) to trade at 22,426.65.

Zomato to Change Name to Eternal Ltd

Zomato’s shareholders have approved a special resolution to rename the company as Eternal Ltd. The change applies only to the corporate entity and will not affect the Zomato brand or app.

Along with the name change, shareholders also approved modifications to the company’s Memorandum of Association (MoA) and Articles of Association (AoA). The approval came through a postal ballot, as per company letters dated February 6 and 7.

This decision is part of Zomato’s long-term strategic vision. The voting results were published in the scrutinizer’s report on March 9.

Zomato’s Q3 FY25 Financial Results

Zomato reported a 57% drop in net profit, falling to ₹59 crore in Q3 FY25 from ₹138 crore in the same quarter last year. Sequentially, net profit declined 66.5% from ₹176 crore in Q2 FY25.

The profit decline was mainly due to higher expenses related to expanding its quick-commerce arm, Blinkit. Despite this, Zomato’s revenue surged 64.9% year-on-year to ₹5,405 crore in Q3, compared to ₹3,288 crore in Q3FY24. Quarter-on-quarter, revenue rose 12.6% from ₹4,799 crore in Q2FY25.

Conclusion

Zomato’s stock has taken a hit due to weak market conditions and falling profits. However, strong revenue growth and business expansion may attract long-term investors. The stock’s decline could present a buying opportunity for those looking at Zomato’s future potential.

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