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Zomato’s loss increased in the fourth quarter, the company’s shares also continued to fall, know what is the reason?

Zomato’s Q4 Result: Online delivery company Zomato has released its fourth quarter results today. Zomato’s consolidated net loss has increased to Rs 359.7 crore in the last quarter of the financial year. Let us tell you that due to higher expenses, there has been an increase in the losses of the company. Zomato has given this information to the stock markets on Monday.

How much was the loss?
Let us tell you that in the last quarter of the financial year 2020-21, the company had a consolidated net loss of Rs 134.2 crore. The company’s consolidated operating cost increased to Rs 1,211.8 crore in the January-March quarter of the last fiscal from Rs 692.4 crore in the corresponding quarter of the previous fiscal.

total cost increased
The company’s total expenses also increased to Rs 1,701.7 crore in the quarter under review. It was Rs 885 crore in the same period a year ago. At the same time, Zomato’s consolidated net loss increased to Rs 1,222.5 crore for the financial year ended March 31, 2022. It was Rs 816.4 crore in the financial year 2020-21. The company said that its operating income also increased to Rs 4,192.4 crore in the last financial year, from Rs 1,993.8 crore in the financial year 2020-21.

Know what the company officials said?
Deepender Goyal, Founder and CEO, Zomato said, “We feel our growth is back on track. We don’t think the ‘post-Covid impacts’ will have any bearing on our growth now. Our business has had its ups and downs even before the start of the pandemic.

continuous fall in stock
Talking about the shares of Zomato, in the last one month, the company’s stock has seen a fall of Rs 21.95, or 27.87 percent. At the same time, the company’s stock has slipped 63.47 percent i.e. Rs 98.70 in the last 6 months. After today’s trading, the company’s stock has closed at the level of Rs 56.80.

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