Home Food Zomato Q2 revenue surges to Rs 1,024 crore

Zomato Q2 revenue surges to Rs 1,024 crore

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platform has reported its revenue from operations jumped from Rs 1,024.2 crore in this quarter ended in September from Rs 462 crore earlier in this year. And the loss also widened from Rs 434.9 crore to Rs 224 crore.  

The company said that the losses were due to the in the food delivery business, which eventually increased spending in the branding and marketing for the customer acquisition. And, there were other reasons were the high investments to grow share in small or emerging geographical locations, high delivery costs due to unpredictable weather and hike in the fuel prices as well, an official statement highlighted. The company also mentioned that the delivery cost per order increased by Rs 5 per order in the September quarter as compared to the previous quarter. 

Adjusted revenue during the quarter stood at Rs 1,4200 crore ($189 million), a 22.6% growth in quarter-over-quarter (q-o-q)  and a 144.9% growth in year-on-year (y-o-y).

At the reporting quarter, Zomato has 1.5 million members and 25,000 restaurant partners in India, while the overall consumer traffic has increased on the platform to 59 million average monthly active users in India.