Zomato Lost Rs 3.9 Crore Per Day In Last 90 days; But Stock Prices Up By 19%! Find Out Why? (Q4 Results)
For the fourth quarter of fiscal year 2021-22, a net loss of Rs 359 crore has been reported by Zomato on May 23.
During the same period, the revenue of the company soared to Rs 1,211.8 crore.
Net Loss, Increased Expenses & Average Transacting Customers
For the previous year, the net loss was almost three times less and stood at Rs 134.2 crore. As against Rs 692.4 crore recorded in Q4 FY21, the revenue has grown by 75%.
As compared to a loss of Rs 153.5 crore previous year, Zomato reported an EBITDA loss of Rs 449.7 crore in Q4 FY22.
Experts say that the reason for increase in the losses is the increase in the expenses. In Q4 FY21, the expenses were Rs 885 crore and climbed up to Rs 1,701 crore in the quarter ending March 31, 2022.
Growing from 15.3 million in the third quarter, the average monthly transacting customers, however, rose to to “an all time high of 15.7 million” last quarter.
Akshant Goyal, CFO, Zomato said that “Likewise, average monthly active restaurant partners and delivery partners were at all-time highs as well”.
The gross order value as per the company grew by 6 percent QoQ and 77 percent YoY to a record high of Rs 58.5 billion.
It said that while the average order value remained stable, this increase was attributed to the growth in the order volumes.
Increased Presence & Reduced Losses
It added that its presence has been increased around 300 more cities during the fourth quarter, taking the overall presence to 1,000+ towns and cities across India.
Deepinder Goyal, CEO, Zomato said that the company is aiming for accelerated growth along with reduction in losses for the upcoming quarters.
He said that the team is working hard to deliver on both growth and profitability expectations and knows exactly what the long-term shareholders expect from them.
The company’s shares closed at Rs 57 at the BSE, which was nearly 1.81 percent lower as against the previous day’s close as per the data of quarterly results.
Despite the losses reports, Zomato shared surged by 19%, because investors were happy about the rise in revenues. With a solid 75% jump in revenues, investors have placed their faith and trust in Zomato.
Comments are closed, but trackbacks and pingbacks are open.