Shares of Zomato surged nearly 19% to an all-time high of Rs 278.45 on Friday, pushing the company’s market capitalization to Rs 2.46 lakh crore. As per Business Times,This surge followed the release of Zomato’s robust Q1 results for the June 2024 quarter, which saw a multifold increase in net profit to Rs 253 crore, up over 12,650% year-on-year, and a 75% rise in revenue to Rs 4,206 crore. Deepinder Goyal, CEO and founder of Zomato, benefited significantly from this rise, adding over Rs 1,638 crore to his wealth, with his stake in the company now valued at Rs 10,288 crore at the stock’s peak.
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