INSUBCONTINENT EXCLUSIVE:
Zomato's revenue from operations grew to Rs 844 crore in the June quarter
Zomato
announced its April-June quarter results for the financial year 2021-22, reporting a net loss of Rs 356 crore on a consolidated basis,
compared to a loss of Rs 99.8 crore in the year-ago period, due to higher expenses as the company's dining-out business was impacted due
This is the first quarterly earnings update of the country's leading food aggregator since its stellar stock market debut last month
The newly listed company's revenue from operations in the first quarter of the current fiscal stood at Rs 844 crore, compared to
growth in our core food delivery business which continued to grow despite the severe COVID wave starting April
On the other hand, COVID significantly impacted the dining-out business in Q1 FY22 reversing most of the gains the industry made in Q4
FY21,'' said Zomato in its statement.The company's total expenses in the June quarter stood at Rs 1,259 crore, compared to Rs 383 crore in
the corresponding quarter last year, according to a regulatory filing by the firm to the stock exchanges.During the April-June quarter, the
4,540 crore in the April-June quarter, while the sequential growth compared to the preceding January-March quarter of fiscal 2020-21 was 37
per cent.''...our India food delivery business continues to remain contribution positive; although the contribution margin reduced slightly
in Q1 FY22 as compared to the previous quarter on account of growth investments in addition to the costlier business environment (due to
lockdowns) in which this growth was achieved,'' added Zomato.Zomato's non-cash employee stock ownership plan (ESOP) expenses increased in
