zomato: Zomato quarterly revenue up 75% on orders, new customers

BENGALURU: Indian food delivery firm Zomato Ltd reported a 75% jump in quarterly revenue on Monday, as new customers propelled a surge in order volumes.
During the quarter through March, gross order value – or the total value of all food delivery orders placed on Zomato’s online platform – jumped 77% year-on-year to a record high of 58.5 billion rupees ($754.40 million), while average monthly transacting customers were at an all-time high of 15.7 million.
“We think our growth trajectory is back on track, and we don’t foresee “post-COVID ramifications” affecting our growth rate anymore,” said Chief Executive Deepinder Goyal.
Demand for services in India’s food delivery sector, dominated by Zomato and rival Swiggy, surged during the pandemic as the country went into strict lockdowns. While Zomato has logged profit losses since its listing in 2021, it has seen a consistent rise in…

Source link


Please enter your comment!
Please enter your name here