Zomato Net loss widens to Rs 359 crore in Q4, revenue sumps to Rs 1,211.8 crore
- ByStartupStory | May 23, 2022
Zomato, an online food delivery platform records a net loss of Rs.359 Cr in fourth quarter of FY 21-22. The firm has reported a revenue of Rs. 1,211.8Cr. The firm has recorder nearly three times the net loss than previous year, which stood at Rs.134.2 Cr last year. Revenue has increased upto 75%.
Founded in 2008, the company In Q4, FY22, has recorded an EBITDA loss of Rs 449.7 crore, compared to Rs 153.5 crore in the same quarter last year. Last quarter, the average monthly transacting consumers increased to “an all-time high of 15.7 million,” up from 15.3 million in the previous quarter.
Zomato said, “Adjusted revenue grew 8 per cent quarter-over-quarter (q-o-q) and 67 per cent year-over-year (y-o-y) to Rs 15.4 billion (Rs 1,540 crore) in Q4FY22. Adjusted Ebitda loss reduced to Rs 2.2 billion (-15 per cent of adjusted revenue) in Q4FY22 as compared to Rs 2.7 billion (-19% of adjusted revenue) in Q3FY22”.
CEO Deepinder Goyal said, “We think our growth trajectory is back on track, and we don’t foresee ‘post-COVID ramifications’ affecting our growth rate anymore. Having said that, even before COVID, growth in our business has been lumpy (and not linear) — so it is essential to take a long-term view of our business.
Founded by Deepinder Goyal, the company gross order value increased by 6% quarter on quarter and 77 percent year on year to Rs 58.5 billion, a new high. The firm was “driven by significant increase in order volumes while the average order value remained constant,”. During the fourth quarter, the firm expanded to 300 more cities to its network.
“We have pledged to grant them a short term loan of up to USD 150 million to cover their short term capital needs,” Goyal stated in response to rumours that Zomato was purchasing Blinkit (previously Grofers).
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