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Monday, January 18, 2021

‘Zomato FY20 losses up 160.63% to Rs 2,451.17 cr’

Revenue from operations grew by a little over 100 per cent y-o-y to Rs 2,336.34 crore. Online ordering, Zomato Gold business and ad sales drive the lion’s share of the company’s revenues.

By: ENS Economic Bureau | New Delhi | January 5, 2021 2:17:52 am
Zomato's net loss, Zomato revenue, food delivery business rose, Online food ordering, economy news, Indian express newsThe company’s total expenses stood at Rs 4,627.75 crore nearly 40 per cent higher compared to Rs 3,383.56 crore it spent in FY19.

Zomato’s net losses increased by as much as 160.63 per cent to Rs 2,451.17 crore in the year to March 31, 2020, the company’s regulatory filings sourced from business intelligence platform Tofler showed.

Revenue from operations grew by a little over 100 per cent y-o-y to Rs 2,336.34 crore. Online ordering, Zomato Gold business and ad sales drive the lion’s share of the company’s revenues. The company’s total expenses stood at Rs 4,627.75 crore nearly 40 per cent higher compared to Rs 3,383.56 crore it spent in FY19.

Zomato had earlier said the firm’s gross merchandise value (GMV) for the core India food delivery business rose to $1,496 million in FY20 from $718 million in FY19, an increase of nearly 108 per cent. “Unit economics in online ordering improved significantly with increased revenue, lower logistics costs and user discounts,” the company said.

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