Zomato net loss triples to Rs 360 crore in Q4, revenue rises 75%

Food delivery firm says it has expanded to more than 300 new cities and it expects revenue growth to accelerate.

Food delivery firm Zomato said on Monday its consolidated net loss for the quarter ended March widened to Rs 360 crore compared to Rs 134.2 crore the same time last year.

Revenue from operations were at Rs 1,211.8 crore, up 75.01 per cent compared to Rs 692.4 crore in the same quarter last year. Deepinder Goyal, Zomato’s co-founder and chief executive officer, said the firm had a low QoQ (quarter-on-quarter) growth in Q3FY22 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,” said Deepinder