, India

Zomato posts INR2.7b loss in Q3 2022

This is an improvement from INR3.1b loss in the previous quarter.

Food delivery app Zomato Limited narrowed its loss to INR2.7b in the third quarter of financial year 2022 from INR3.1b in the previous quarter. Zomato’s financial year ends on 31 March of the year.

The company’s revenue was flat at INR14.2b over the same period. This was attributed to about 9% quarter-on-quarter revenue from operations, offset by customer delivery which contracted 22%.

“We re-distributed our growth investments more in favor of discounts on customer delivery charges vis-a-vis food coupons,” Zomato said.

“We are seeing higher return on investment with discounted delivery charges as compared to coupons. As a result, discounts per order reduced by INR 5 per order in the last quarter as compared to Q2 FY22.”

Zomato noted the reduction in customer delivery charges was also due to the temporary free delivery introduced in 180 new cities.

Moreover, its gross order value (GOV) rose 1.7% QoQ to INR55b, whilst the number of orders grew 5% during the quarter, which the company also linked to the reduction in delivery charges.

On top of this, Zomato said the weak quarterly growth in GOV is also a soft impact of post-covid reopening.

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

India’s e-commerce market to reach $147.3b in 2024
It will be driven by the expanding internet penetration and better digital payment infrastructure.
E-commerce
Food colors market to reach $5.42b by 2031
Still, the market growth is constrained by strict regulations.

Exclusives

Brands told to come clean about beauty care
Consumers are more discerning and can easily spot fake ingredient claims.
Swarovski cracks TikTok to scale luxury amongst Gen Zs
The Austrian glassmaker is working with influencers to connect with the Singaporean market.
Starbucks Korea opens high-tech store in Seoul
Its first reserve-only branch features AR art installations and a Mixology Bar.
Decathlon gets closer to hybrid Singaporean shoppers through pick-up service
The world’s largest sporting goods retailer lets clients pick up online orders on the go.Decathlon is building on the success of its pick-up service in Singapore as it progresses toward its target of having 37 locations in the city-state in the next two years, its top official said.