Food Delivery Company Declares Rs 188 Crore Consolidated Loss In Q4, Revenue Surges 70%

Food delivery platform, Zomato has recently announced its financial results for the fourth quarter, demonstrating improved performance and significant revenue growth. The company reported a consolidated loss of ₹187.6 crore for the quarter ended March 2023 from ₹360 crore in the same quarter last year.

Operating revenue increased 70% to Rs 2,056 crore from Rs 1,211.8 crore in the same period last year.

The company's losses from the December quarter before last were reduced from 345 crore.
The food delivery business reported quarterly sales of 1,530 crore, up from 1,284 crore in the prior year. Business-to-business (B2B) segment revenue was $478 million, up from $194 million in the prior year. A revenue of 363 crore was reported by fast commerce or Blinkit, up from 301 crore in the prior quarter.

The gross order value in the food delivery industry increased from 5,853 crore to 6,569 crore but fell from 6,680 crore a quarter earlier.

Zomato's stock price on the Bombay Stock Exchange (BSE) closed at Rs 65.54 per share, marking an intraday increase of 1.72%. The stock's 52-week high and low prices were recorded at Rs 79.80 and Rs 40.55 per share, respectively. The market capitalization of the company stands at Rs 55,370.07 crore, reflecting its overall value in the market.