New Delhi Food aggregator Zomato Ltd has reported loss of 359.7 crore for the quarter ended March as compared to a loss of Rs. 138.1 crore during the corresponding period of the previous year. Net loss widens despite increase in other income from 138.2 crore 58.4 crores. For the year ended FY 2012, Zomato’s net loss widens to 1,222.5 crore 816 crore in FY 2021.
However, Zomato’s revenue witnessed a growth of 75% in Q4FY22, 1,211.8 crore as compared to 692.4 crores year-on-year.
Aggregator’s gross order value hits record high for the last quarter of the financial year 5,850 crore, a growth of 77% year-on-year and 6% quarter-on-quarter.
On the operations front, Zomato reported an adjusted earnings before interest, tax, depreciation and amortization loss. 224.5 crore for Q4FY22, which has contracted on a quarterly basis (from 272.3 cr in Q3), but has almost doubled on a year-on-year basis (from 120.7 crore in Q4FY21).
The company claims to have witnessed tremendous growth especially during the third and fourth quarters of the financial year 2021-22, as the country returns to normalcy from a raging pandemic that boosted the dine-out and travel sectors Is.
“We believe there was a one-time correction of our growth trajectory on the back of two strong quarters. We feel that our growth trajectory is back on track and we do not let the ‘post-Covid impact’ affect our growth rate,” said Deepinder Goyal, Founder, Zomato.
On a free cash flow basis, the company saw an outflow of 210 cr in Q4FY22. It is very keen to conserve cash as it feels that all minority equity investments have been completed.
Zomato recorded a record number of customers doing average monthly transactions for the quarter ended March at 157 crore users as compared to 98 lakh year-on-year.
However, the food and grocery delivery platform saw its revenue from operations more than double in the period under review. 4,192.4 crore from 1,993.8 crore during a year ago.
Goyal said minority investments made over time tap into economies of scale and build unbeatable moats that will serve customers for many decades.
He also allayed apprehensions about investing his personal money in some early-stage companies and said that Zomato as an entity made subsequent investments only after believing in the startup’s growth potential.