Business

Zomato's Net Loss Stands At 435 Crore in September Quarter

   Download Android App    Share in      FullScreen   CheckVideos

Food delivery giant Zomato has reported loss in the September quarterFood shipment huge Zomato's consolidated net loss widened to Rs 435 crore in the second quarter of 2021-22.

It had actually earlier reported a consolidated loss of Rs 230 crore in the corresponding duration of last year.Zomato's combined income from operations rose 140 percent to Rs 1,024 crore in September quarter of the current financial as against Rs 426 crore in the corresponding duration of last year.The company attributed a range of factors behind its losses, generally greater spending on branding and marketing for consumer acquisition, increased financial investments and growing share of smaller sized towns and cities in its organization which are not as successful as compared to larger centres and higher delivery expenses due to increasing fuel costs and unforeseeable climate condition.

The delivery cost per order increased by Rs 5 per order in September quarter of 2021-22 as compared to June quarter of existing fiscal.

This was on account of extended and unpredictable rainy season (which still continues in many parts of the country, unusually) and sharp increase in fuel prices, the company stated in a filing to stock exchanges.At the very same time, Zomato added that it did not anticipate delivery costs to increase further and revealed confidence about its contribution margin staying favorable in the mid, along with long term.The business's shares had got listed in the stock market in July this year.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20