For the reporting quarter, the newly-listed business Zomato recorded adjusted revenue growth of 26% year on year to Rs. 1,160 crore. Adjusted revenues are calculated by Zomato as the sum of revenue from operations + customer delivery charges.
During the quarter ending June 30, 2021, food delivery aggregator Zomato recorded a consolidated loss of 356.2 crores. In the previous fiscal year, the Deepinder Goyal-led firm lost Rs 99.8 crore.
During the quarter under review, Zomato’s overall revenue from operations increased to 844.4 crores, up from 266 crores in the previous quarter.
Total expenses rose to 1,259.7 crores from 383.3 crores, owing to higher employee benefits expense of 390. 7 crores and stock-in-trade purchase of 74.7 crores.
Zomato’s stock dropped 4.22 percent on the BSE to settle at 124.95, down 5.50 from its previous level, ahead of its maiden quarterly earnings.
Zomato NSE 5.11 percent, an online food aggregator, today announced a combined net loss of Rs. 356.2 crore for the quarter ended June, compared to Rs. 99.8 crore the year before.
For the reporting quarter, the newly-listed business recorded adjusted revenue growth of 26% year on year to Rs. 1,160 crore. Adjusted revenues are calculated by Zomato as the sum of revenue from operations + customer delivery charges.
The year-over-year rise in adjusted sales is immaterial, according to the online food aggregator, because the year-ago quarter was negatively impacted by the national lockdown to contain the spread of the COVID-19 epidemic.
Zomato claimed that revenue growth was mostly due to growth in its core food delivery business, which continues to expand despite the severe COVID outbreak that began in April.
During the quarter, however, the Indian food delivery business showed growth, with the firm recording its highest-ever gross order value, number of orders, transactional users, and active delivery partners.
In the reporting quarter, the gross order value of the Indian food delivery company increased by more than fourfold year on year to Rs. 4,540 crore. The sequential increase in gross order value was 37%.
“Our India food delivery business continues to remain contribution positive; although the contribution margin reduced slightly in Q1FY22 as compared to the previous quarter on account of growing investments in addition to the costlier business environment (due to lockdowns) in which this growth was achieved,” Zomato said.
Because of the second wave of the pandemic and isolated lockdowns, the dining-out industry fell in the June quarter, as projected. According to Zomato, the dining-out segment’s revenues are decreasing sequentially.
At the same time, Zomato said that losses at Hyper pure increased in the June quarter as a result of investments in the company’s expansion.
Zomato’s operating results were not particularly impressive, with adjusted earnings before interest, taxes, depreciation, and amortization rising to about Rs. 170 crore from Rs. 120 crore the previous quarter.
“This divergence in reported profit/loss and adjusted EBITDA will continue going forward,” Zomato said.
Zomato’s stock fell 4.3 percent to Rs. 125 on the National Stock Exchange.
