Home / Companies / Company Results /  Zomato March quarter loss widens, gross order value soars to a record
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NEW DELHI : Food aggregator Zomato Ltd reported a loss of 359.7 crore for the quarter-ended March compared with a loss of 138.1 crore during the same period of the preceding year. The net loss widened despite a rise in other income to 138.2 crore from 58.4 crore. For the year-ended FY22, Zomato’s net loss widened to 1,222.5 crore from 816 crore in FY2021.

Zomato’s revenue, however, saw a 75% rise in Q4FY22, at 1,211.8 crore compared with 692.4 crore year-on-year.

The aggregator’s gross order value for the last quarter of the fiscal has surged to a record 5,850 crore, a growth of 77% year-on-year and 6% quarter-on-quarter.

On the operational front, Zomato reported an adjusted earning before interest, tax, depreciation, and amortisation loss of 224.5 crore for Q4FY22, which has narrowed on a quarterly basis (from 272.3 crore in Q3), but has nearly doubled on a year-on-year basis (from 120.7 crore in Q4FY21).

The company claims to have seen tremendous growth, especially during Q3 and Q4 of financial year 2021-22, as the country crawled back to normalcy from a raging pandemic, giving a boost to the dine-out and travel segments.

“We believe that was a one-time correction of our growth trajectory on the back of two strong quarters. We think our growth trajectory is back on track and we don’t foresee ‘post-covid ramifications’ affecting our growth rate anymore," said Deepinder Goyal, founder, Zomato.

On a free cash flow basis, the company saw an outflow of 210 crore in Q4FY22. It is very keen on conserving cash as it feels that all minority equity investments have been completed.

Zomato also reported a record number for average monthly transacting customers for the quarter-ended March, at 1.57 crore users compared to 98 lakh year-on-year.

However, the food and grocery delivery platform saw its revenue from operations more than double in the period under review at 4,192.4 crore from 1,993.8 crore during the year ago.

Goyal said that the minority investments that were made from time-to-time tap into economies of scale and build unbeatable moats that will serve customers for multiple decades.

He also allayed fears about his personal money being invested in some early-stage companies and said that Zomato as an entity only invested later after having confidence on the startup’s growth potential.

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