Good news for zomato Investors..!? New record..!
While zomato shares continued to tumble due to a poor IPO and persistently high losses, zomato and its investors now have an important reason to celebrate. While Zomato's massive drop in losses is a big deal, the company's revenue growth has hit a new high, giving hope to the indian startup market. Zomato's adjusted revenue for the september quarter grew by 48 percent year-on-year to hit an all-time high of Rs 2,107 crore, marking the first time Zomato's revenue has crossed the $1.05 billion mark. Adjusted revenue is revenue that includes operations and customer delivery charges.
The first time a quarterly revenue has crossed the $1 billion mark is a new record for Zomato. In response to this, zomato shares rose up to 13.60 percent at the end of trading on Friday. Trading at Rs 72.65 per share, zomato shares have grown by 15.78 percent in the last 5 days, 18.61 percent in one month, and 27.79 percent in 6 months. But in 2022, the total has fallen by 48.60 percent. In this case, let's have a complete look at the quarterly results of Zomato. In particular, look at the status of Blinkit, which was acquired by zomato in August.India's largest food delivery service company zomato has reported its consolidated net loss for the quarter that ended september 30 narrowed to Rs 250.8 crore from Rs 434.9 crore recorded in the same quarter last year. Revenue rose 62.20 percent to Rs 1,661.3 crore this year from Rs 1,024.2 crore in the same quarter last year. zomato Company said in a report submitted to the stock exchange that it has risen.Also, the adjusted EBITDA loss increased to Rs 192 crore during the period, compared to Rs 150 crore in the june quarter. The most significant reason for the increase in losses was the acquisition of zomato BLINKIT. For the food delivery business, gross order value (GOV) growth was 3 percent every quarter and 23 percent on an annual basis. Both order volumes and average order value have grown significantly during this period. Average revenue growth per order grew 8 percent every quarter and 27 percent on an annualized basis. Similarly, the margin rose to 4.5 percent in the september quarter from 2.8 percent in the first quarter of the current fiscal. Blinkit's gross order value (GOV) growth, which was acquired by zomato in august this year, grew 26 percent quarter-on-quarter to Rs 1,482 crore, while revenue was 44 percent. Also, the EBITDA loss narrowed to Rs 259 crore from Rs 326 crore in the previous quarter.