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HomeDigit NewsZomato Q4 Result: Zomato's loss increased by 2.5 times to 360 crores,...

Zomato Q4 Result: Zomato’s loss increased by 2.5 times to 360 crores, but there was a 75% jump in revenue

Zomato Q4 Result: Online food delivery platform Zomato on Monday announced its fourth quarter results. During January-March 2022, the company’s net loss has increased by more than two and a half times and it has increased to Rs 359.7 crore. During the same period last year i.e. January-March 2021, the company’s net loss was Rs 134.2 crore.

The increase in expenses is believed to be responsible for the sharp increase in the company’s losses. The company’s total expenses rose sharply to Rs 1701.7 crore in the fourth quarter, while the total expenditure during January-March 2021 stood at Rs 885 crore.

According to the information given by Zomato in the regulatory filing on Monday, the company’s revenue has seen improvement in the quarter ended March 2022. During this period, the consolidated revenue from the company’s operations stood at Rs 1211.8 crore, while it was Rs 692.4 crore during January-March 2021. In this way, the revenue of the company has seen a jump of about 75 percent during this period.

For the full financial year ended March 31, 2022, the company’s consolidated net loss increased to Rs 1,222.5 crore, as against the company’s consolidated net loss of Rs 816.4 crore during the previous financial year. The company’s total operating income during the financial year 2021-22 stood at Rs 4,192.4 crore, as against Rs 1,993.8 crore during the financial year 2020-21.

Commenting on the results, Zomato Founder and CEO Deepinder Goyal claimed that his company’s growth trajectory is back on track. He expressed the hope that no effect of the post-Covid negative situation will now be visible on the performance of his company. However, along with this, he said that even before Kovid, the growth of his business was full of ups and downs, so it is necessary to have a long term view about it, that is, to form an opinion in the long run. He said that in the coming days, his company is aiming to move towards profit by reducing losses. The company is working hard to meet the expectations of its shareholders in terms of growth and profitability, he added. (Input: PTI)

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