Zomato’s shares fell 8.02% on the Bombay Stock Exchange (BSE) today, reaching 228.80 rupees (around US$2.64), following the release of its financial results for Q3 FY25.

Market capitalization decreased to 2,21,909 crore rupees (around US$2.5 billion), with nearly 10 crore shares traded during the session.

The foodtech firm’s consolidated net profit dropped 57.2% year-on-year to 59 crore rupees (around US$68 million) in the December quarter, down from 138 crore rupees (around US$15.9 million) in the same period last year.

Profits also fell 66% quarter-on-quarter from 176 crore rupees (around US$20.3 million).

This occurred despite a 64% increase in operating revenue year-on-year to 5,405 crore rupees (around US$623.7 million), up from 3,288 crore rupees (around US$378.9 million).

Zomato’s shares later regained some value and closed 3.14% lower at 240.95 rupees (around US$2.7).