Zomato Reports 70% YoY Revenue Growth in Q4, Losses Decrease by 47%
- ByStartupStory | May 19, 2023
Zomato, the food and grocery delivery company, witnessed a substantial 70% surge in revenue to Rs 2,056 crore during Q4 FY23. Additionally, the company experienced a significant reduction in losses, down 47% from the previous year. In the fiscal year 2023, Zomato recorded a remarkable revenue of Rs 7,079.4 crore, marking a 69% increase compared to FY22. Furthermore, the company managed to decrease its losses from Rs 1,208.7 crore in the previous year to Rs 971.3 crore in FY23.
However, Zomato’s total expenses significantly increased to Rs 2,431 crore in the January-March quarter, compared to Rs 1,701.7 crore in the corresponding quarter of the previous year. While revenue from the food delivery business in the quarter experienced a modest growth of 22% to Rs 1,172.5 crore, up from Rs 956 crore in the same period last year, Zomato Hyperpure, the company’s B2B restaurant supplies vertical, witnessed an impressive 146% surge in revenue to Rs 478 crore during the fourth quarter, as compared to the year-ago period.
Calling all entrepreneurs, investors and business owners! The wait is finally over. The 2nd edition of Startup Story B2B Connect is back with a bang – and this time, we’re taking it up a notch. With more startups, more investors and bigger opportunities than ever before, this is your chance to connect, collaborate and take your business to the next level. Get ready for an unforgettable networking experience that’s set to change the game. Stay tuned for all the exciting updates! Register Now Here.
Follow Startup Story
Related Posts
