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Zomato Q1 results: Net loss widens to Rs 356 crore; consolidated revenue rises to Rs 844 crore

Zomato Q1 results: Net loss widens to Rs 356 crore; consolidated revenue rises to Rs 844 crore

Zomato Q1 results: Net loss widens to Rs 356 crore; consolidated revenue rises to Rs 844 crore
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By CNBCTV18.com Aug 10, 2021 11:03:44 PM IST (Updated)

The consolidated revenue of Zomato stood at Rs 844.4 crore for the quarter under consideration . The Deepinder Goyal-led company reported its highest gross order volume, which rose 37 percent to Rs 4,540 crore.

Food delivery aggregator Zomato on Tuesday reported a consolidated loss of Rs 356.2 crore during the quarter ended June 30, 2021 as against Rs. 99.8 crore in the year-ago quarter.

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The company's adjusted revenue grew 26 percent quarter-over-quarter to Rs 1,160 crore. Consolidated revenue, however, stood at Rs 844.4 crore for the quarter under consideration against Rs 266 crore for the same period a year ago,
"Revenue growth was largely on the back of growth in our core food delivery business which continued to grow despite the severe COVID wave starting April, " Zomato said.
Total expenses of the company rose to Rs 1,259.7 crore for the quarter ended June this year from Rs 383.3 crore for the year-ago period.
The second wave of COVID-19 infections in the country significantly impacted its dining-out business and reversed most of the gains the industry made in the previous quarter, the company added.
The Deepinder Goyal-led company reported its highest gross order volume, which rose 37 percent to Rs 4,540 crore in the first quarter.
"India food delivery business reported the highest ever GOV, number of orders, transacting users, active restaurant partners and active delivery partners till date in any quarter in our history," Zomato said.
During the quarter ended June 30, 2021, the Group has entered into definitive agreements with Grofers India Pvt Ltd, Hands On Trades Pvt Ltd (HOTPL), Grofers International Pte Ltd and others, in relation to the acquisition of 9.25 percent stake in Grofers India Pvt Ltd and 9.27 percent stake in HOTPL respectively, it added.
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