Zomato Ltd shares rise over 7% The online food delivery platform posted a consolidated net loss of 61 episodes on the BSE in early deals on Tuesday. 359.7 crore in the fourth quarter ended March 2022, impacted by higher expenses. Revenue from operations increased by 75%. done from 1,212 crore 692 crore year-on-year (YoY).
Gross order value (GOV) during the quarter rose 6% quarter-on-quarter (QoQ) and reached a record high of 77% from the year-ago period. 5,850 crore in the fourth quarter.
,zomato Despite an accelerated growth target, the focus is on loss reduction, which is in line with long-term shareholder expectation. 1QFY23 losses should be meaningfully lower,” said analysts at Jefferies.
On the operational front, Zomato reported an adjusted EBITDA loss of 224.5 crore for Q4FY22, which has narrowed on a quarterly basis but almost doubled on a year-on-year basis.
The contribution margin (% of government) is likely to reach double digits in the long run, with some cities already at this level. Zomato still expects to reduce the delivery cost through utilization of better fleet, added the brokerage while maintaining its buy rating zomato share with a target price of 100.
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