Zomato revenue triples to $206 million in FY19; losses at $294 million

Delivery revenue for the year rose four times to $155 million from $38 million and dining out revenue rose 63 per cent to $49 million

Food delivery and restaurant discovery firm Zomato has posted a three-fold jump in revenues at $206 million in the financial year ended March 31, 2019, though the impressive growth in topline came by splurging more money than before for acquiring new customers. During the period under review, the company saw its total cost rising more than six-fold to $500 million when compared to $80 million in FY18, Zomato said in its short-form annual report, indicating that cost of acquisition of new customers may also have significantly gone up. 

“Most of the losses ($294m) are on account of the food delivery