Zomato stock gains 4% on strong revenue of Rs844cr in Q1FY22 driven by growth in core food delivery biz
Online food delivery company, Zomato logged a net loss of Rs356.2cr that is attributable to equity shareholders for the quarter ending June 2021 (Q1FY22) - widening from a loss of Rs99.8cr of the same quarter last year and a loss of Rs130.8cr in the previous quarter.
Zomato's loss before other comprehensive income was at Rs360.7cr in Q1FY22.
The company's revenue from operations was at Rs844.4cr in Q1FY22 higher from Rs266cr of Q1FY21 and Rs692.4cr of Q4FY21.
Deepinder (Founder & CEO) and Akshant (CFO) said, "Revenue growth was largely on the back of growth in our core food delivery business which continued to grow despite the severe COVID wave starting April. On the other hand, COVID significantly impacted the dining-out business in Q1 FY22 reversing most of the gains the industry made in Q4 FY21."
The duo said, "India food delivery business reported the highest ever GOV, number of orders, transacting users, active restaurant partners and active delivery partners till date in any quarter in our history."
India food delivery GOV in Q1 FY22 grew by 37% QoQ to INR 45.4 billion ($605m), from INR 33.1 billion ($442m) in Q4 FY21 (@ 1 USD = 75 INR).
The company delivered a billion orders last week.
At around 09.33 am, Zomato was trading at Rs129.50 per piece up by 3.6% on Sensex
The duo said, "India food delivery business reported the highest ever GOV, number of orders, transacting users, active restaurant partners and active delivery partners till date in any quarter in our history."
India food delivery GOV in Q1 FY22 grew by 37% QoQ to INR 45.4 billion ($605m), from INR 33.1 billion ($442m) in Q4 FY21 (@ 1 USD = 75 INR).
The company delivered a billion orders last week.
At around 09.33 am, Zomato was trading at Rs129.50 per piece up by 3.6% on Sensex
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