Food aggregator Zomato on Thursday reported a consolidated net loss of ₹63 crore for the quarter ending 31 December 2021. The firm had posted a net loss of ₹352.6 crore in the year-ago period. The company had posted a net loss of Rs 429 crore in the previous September quarter.
Revenue from operations rose 82.47% to ₹1,112 crore for the December quarter as against ₹609 crore in the year-ago quarter.
Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) loss reduced to ₹270 crore in the third quarter as compared to ₹310 crore ($41 million) in the previous quarter (Q2FY22), driven by rationalizing spending across various businesses and functions.
The company’s gross order value (GOV) grew by 84.5% year-on-year and 1.7% quarter-on-quarter to ₹5,500 crore in the reporting quarter.
The number of orders grew 93% YoY and 5% QoQ. Average order value (AOV, which includes customer delivery charges) narrowed by 3% QoQ, mostly on account of reduction in customer delivery charges. The contribution of (as a %) GOV for the food delivery business was 1.1% in Q3 FY22 as compared to 1.2% in Q2 FY22.
The company said its revenue from operations grew by about 9% quarter-on-quarter (QoQ), while the customer delivery charges fell by 22%. “This was driven by ₹7.5 per order reduction in customer delivery charges in Q3FY22 as compared to Q2FY22,” it added.
“Zooming out from the current quarter, we remain focused on the bigger picture and the long-term growth potential of our food ordering and delivery business in the years ahead,” the company said in a filing. Zomato said it continues to benefit from the changes it is helping to drive in the overall restaurant industry.