Zomato on Friday reported trimming of losses – both on a year-on-year (YoY) and sequential basis – in the March quarter. The company’s consolidated net loss narrowed to Rs 188 crore from Rs 360 crore a year ago, and Rs 345 crore a quarter ago.
Consolidated revenue increased a whopping 70% YoY to Rs 2,056 crore. The net loss was much lower than the estimated Rs 356 crore. The revenue, however, was tad lower than the estimated Rs 2,122 crore.
In FY23, Zomato’s loss narrowed to Rs 971 crore from Rs 1,209 crore a year ago. Revenue increased 69% to Rs 7,079 crore.
More to come….
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