Zomato Canada, a step down subsidiary of Zomato in Canada has been dissolved with effect from 22 March 2022.
As per Zomato's red herring prospectus on 6 July 2021 and 19 July 2021, Zomato Canada has a net worth of Rs 0.25 crore with no active business operations. Further, Zomato Canada is not a material subsidiary of the company and the closure of Zomato Canada will not affect the turnover /revenue of Zomato, the company's press statement highlighted.
On a consolidated basis, the food delivery company reported net loss of Rs 63.20 crore Rs 63.20 crore in Q3 December 2021 as against net loss of Rs 352.60 crore in Q3 December 2020. Net sales rose 82.47% to Rs 1,112 crore in Q3 December 2021 over Q3 December 2020.
Shares of Zomato rose 0.93% to Rs 81.45 on BSE. Zomato's technology platform connects customers, restaurant partners and delivery partners, serving their multiple needs. It also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.
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