Business News | Zomato Q4 Net Loss Widens to Rs 359 Crore

Mumbai (Maharashtra) [India], May 23 (ANI): Food aggregator Zomato Limited on Monday reported a net loss of Rs 359 crore for the quarter ended March 2022, more than double the loss of Rs 134 crore recorded in the corresponding period of the last year.

The company's consolidated revenue from operations rose to Rs 1,212 crore in the fourth quarter of 2021-22 as compared to Rs 692 crore recorded in the corresponding period of the previous year, posting year-on-year growth of 75 per cent.

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The company's adjusted revenue grew 8 per cent quarter-on-quarter and 67 per cent year-on-year to Rs 1,540 crore in the fourth quarter of 2021-22.

Adjusted EBITDA loss reduced to Rs 220 crore, (-15 per cent of Adjusted Revenue) in Q4 FY22 as compared to Rs 270 crore (-19 per cent of Adjusted Revenue) in Q3 FY22, Zomato said in a regulatory filing to the stock exchanges.

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On the impact of the COVID-19 pandemic on the company's business, Zomato said, "we did see a low QoQ growth in Q3 FY22 as dining-out and travel opened up post-COVID. 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. Having said that, even before COVID, growth in our business has been lumpy (and not linear) - so it is essential to take a long-term view of our business," it said. (ANI)

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