Food delivery platform Zomato has released its second quarter results. According to the company, its profit has increased by about 5 times compared to last year. At the same time, the company's income has seen a sharp jump of 68 percent. Along with the results, the company has announced that the board has approved the plan to raise Rs 8500 crore through QIP. In Tuesday's trading, Zomato's stock closed at 256 with a decline of 3.6 percent.

How were the quarterly results?
 

The company has informed that its profit has increased from Rs 36 crore to Rs 176 crore as compared to last year. That is, there has been a jump of 388 percent in profit as compared to last year. The company's income has increased by 68.5 percent to Rs 4799 crore. In the same quarter a year ago, the company's income was at the level of Rs 2848 crore. The company's EBITDA was Rs 226 crore. Last year the company had a loss of Rs 47 crore in this. During the quarter, the company's margins were at 4.7 percent. After the results, Group CEO Deepender Goyal said that there is a good growth in business. Approval to raise funds Along with the results, the company has also announced a plan to raise funds. The company informed the stock market that the board has approved the plan to raise Rs 8500 crore through QIP. There was a decline in the stock in Tuesday's trading. The stock has been under pressure since the end of September when it reached close to the level of 300. However, in the last one year, the stock has more than doubled the money of its investors. A year ago, the stock was below the level of 110.