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Zomato narrows net loss to Rs 188 cr in Q4, revenue up 70% YoY

Online food platform Zomato on Friday said that its consolidated net loss narrowed to about Rs 188 crore for the quarter ended March 31, from Rs 360 crore from the year-ago quarter, and from Rs 345 crore from last quarter.The company reported . ....

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Zomato Narrows Net Loss To Rs 188 Cr In Q4, Revenue Up 70% YoY

In FY23, Zomato s loss went down to Rs 971 crore from Rs 1,209 crore a year ago as revenue increased around 70 percent to Rs 7,079 crore. ....

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Zomato narrows net loss to INR 188 cr in Q4, revenue up 70% YoY

NEW DELHI Online food platform Zomato on Friday said that its consolidated net loss narrowed to about INR 188 crore for the quarter ended March 31, from INR 360 crore from the year-ago quarter, and from INR 345 crore from last quarter. The company reported consolidated revenue at INR 2,056 crore, a 70 per cent jump from INR 1,211.8 crore in the year-ago period. In FY23, Zomato’s loss went down to INR 971 crore from INR 1,209 crore a year ago as revenue increased around 70 per cent to INR 7,079 crore. “In food delivery, over the last five quarters, we have improved our margins meaningfully while further strengthening our market position. We will continue with the same mindset as we look to further expand the Adjusted EBITDA margin (from the current 1.2 per cent) to our stated goal of +4-5 per cent of GOV,” said Deepinder Goyal, Zomato Founder and CEO. Meanwhile, Zomato’s arch rival Swiggy declared on Thursday that its food delivery business has become profitabl ....

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