Food and grocery delivery firm Zomato posted a 70% increase in revenue to Rs 2,056 crore in the fourth quarter of FY23. Losses for the period declined to Rs 188.2 crore, down 47% from the year-ago period.
The Deepinder Goyal-led firm posted revenue of Rs 7,079.4 crore in fiscal year 2023, up 69% from FY22. Losses in FY23 fell to Rs 971.3 crore from Rs 1,208.7 crore in the previous year.
However, the firm’s total expenses shot up to Rs 2,431 crore in the January-March quarter from Rs 1,701.7 crore in the same quarter last year.
Revenue from the food delivery business in the quarter grew marginally by 22% to Rs 1,172.5 crore—from Rs 956 crore in the same period last year.
Zomato Hyperpure, the company’s B2B (business-to-business) restaurant supplies vertical, witnessed a whopping 146% rise in revenue to Rs 478 crore in the fourth quarter, compared to the year-ago period.
Zomato’s quick commerce division Blinkit posted a revenue of Rs 362 crore last quarter.
(The story will be updated with more info.)
