Zomato's Q3FY22 loss narrows on the back of double-digit growth in revenue

18 Feb 2022 , 03:58 PM

Zomato Ltd., the online food delivery conglomerate, has announced its results for the quarter and nine months ended December 2021. The company’s loss narrowed significantly from Rs352 crore in the quarter ended December 2020 to Rs63 crore in Q3FY22.

Company was able to reduce its loss in the current quarter majorly due to one time gain of Rs316 crore from the sale of its stake in Fitso.

Its revenue also registered a growth of 82.48% yoy at Rs1,112 crore for the quarter ended December 2021, as compared to Rs609.39 crore for the previous corresponding quarter. Revenue grew mainly due to increasing demand in its dining out’s business as covid cases declined.

Zomato’s EBITDA for the quarter ended December 2021 stood negative at Rs341.10 crore as against Rs82.94 crore for the quarter ended December 2020.

Zomato posted a loss of Rs429 in the quarter ended September 2021.

Zomato closed 3.76% lower in today’s trade at Rs85.80 against its previous closing price of Rs89.15 on NSE. It touched day’s high and low of Rs88.40 and Rs85.20 respectively.