India’s food delivery giant, Zomato’s share price crashed after the company posted its earnings report for the quarter ended December earlier this week. Zomato’s stock has slumped over 15% this week.

Shares of Zomato Ltd. slumped more than 13% on Tuesday after losses in the quick commerce segment caused the company’s earnings to fall short of analyst estimates.

Zomato share price dropped over 9% following a 57.2% decline in Q3 net profit to ₹59 crore. The company reported a revenue of ₹5,405 crore, while total expenses surged to ₹5,533 crore, reflecting challenges amid rapid expansion and demand slowdown.