Zomato records Rs 360 crore loss in Q4 even as revenue rises by 75%

Zomato stock also fell by 2.15 % even as the gross order value increased by 6% quarter on quarter. The company believes that the loss is short-term in nature and customers are increasing.

Zomato Ltd reported a widening consolidated loss of 360 crores for the March quarter, up from 131 crores in the previous quarter.
In the January-March period, revenue from operations increased by 75% to 1,212 crores. On Monday, Zomato’s stock fell 2.15 percent to close at 56.80 per share on the NSE.

The business stated in a statement that gross order value (GOV) increased by 6% quarter-on-quarter. Moreover, 77 percent year-on-year to a record high of 5,850 crores in the fourth quarter.

More Customers for Zomato

In the three months to March, average monthly transacting clients were slightly higher. At 15.7 million, compared to 15.3 million in the preceding quarter. Since the last week of April, Zomato has seen some strain on the availability of delivery partners in select metropolitan cities in the current quarter.

“We think this is short-term in nature. As the post-COVID-19 economic recovery has brought back jobs in cities. And we lost some delivery partners to such jobs. On top of it, all the workforce which migrated to their hometowns during the first COVID-19 wave, hasn’t yet come back to the cities for work , thus hampering our delivery partner acquisition rate,” it added.

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