Zomato’s net loss increased to Rs 356 crore in the June quarter
Zomato, the country’s food aggregator, which announced its first quarterly earnings update since its stellar stock market debut in July, delivered its one-billionth order last week, according to Deepinder Goyal, co-founder and Chief Executive Officer, Zomato. In a blog post on Aug. 10, Mr Goyal said it took Zomato six years to reach the milestone. He added that more than 10 percent of these billion orders were delivered in the last three months. (Also read: Zomato net loss broadens to ₹356 crore in first profit since IPO)
Two updates –
1 – Last week we delivered our billionth order to @zomato
2 – We just released our first quarterly post-IPO results. Read more at https://t.co/oambSoQkf1— Deepinder Goyal (@deepigoyal) August 10, 2021
In the June quarter, the company’s Indian food delivery arm reported the highest gross order value (GOV), user transactions, number of orders, active restaurant partners and active delivery partners in any quarter in its history so far. The gross order value of Zomato’s Indian food in the April-June quarter grew 37 percent to Rs 4,540 crore on a sequential basis, compared to Rs 3,310 crore in the previous January-March quarter.
Gross Order Value is the total monetary value of all food delivery orders placed online on the platform in India, including taxes, customer delivery charges, gross of all discounts, excluding gratuities.
Zomato reported a net loss of Rs 356 crore on a consolidated basis in the first quarter of the current fiscal year, compared to Rs 99.8 crore in the same period a year ago, due to increased costs and impact on the hospitality industry as a result of the second wave of the COVID-19 pandemic.
However, Zomato reported an increase in revenue in the June quarter as revenue from operations was 844 crore, compared to ₹266 crore in the corresponding quarter last year, a threefold increase year-over-year, driven by growth in its core delivery business. of meals.
On Wednesday, August 11, Zomato shares rose nearly five percent in a weak market a day after it announced its April-June quarterly results. Shares of Zomato last traded 5.12 percent higher at Rs 131.35 on the BSE.
