Zomato’s gross order value for the fiscal fourth quarter reached a new high of 5,850 crores.
Zomato Ltd reported a loss of 359.7 crore for the quarter ended March. When compared to a loss of 138.1 crore in the same period the previous year it is triple. Despite an increase in other income to 138.2 crore from 58.4 crore, the net loss increased. Zomato’s net loss expanded to 1,222.5 crore in FY22, up from 816 crore in FY2021.
Zomato’s revenue, on the other side, increased by 75% in Q4FY22, to 1,211.8 crore from 692.4 crore the previous year. The aggregator’s gross order value for the fiscal fourth quarter increased by 77 percent year on year and 6 percent quarter on quarter to a record 5,850 crore.
On the operational front, Zomato reported a loss of 224.5 crore for Q4FY22. It has shrunk on a quarterly basis (from 272.3 crore in Q3) but nearly doubled year on year (from 120.7 crore in Q4FY21).
The company claims to have seen substantial growth, particularly during the third and fourth quarters of fiscal year 2021-22. As the country rebounded from a raging pandemic, pumping up 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.
Record Average Monthly Users: Zomato
Zomato also reported a record number of average monthly transacting customers for the March quarter. It was 1.57 crore users, up from 98 lakh the previous year. However, the platform’s revenue from operations more than doubled in the year under review. It touched 4,192.4 crore from 1,993.8 crore the previous year.
According to Goyal, the minority investments made from time to time tap into economies of scale and build unbeatable moats that will serve customers for decades.
He also assuaged concerns about his personal money being invested in some early-stage companies, stating that Zomato as a company only invested later after being confident in the startup’s growth potential.
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