‘Zomato FY20 losses up 160.63% to Rs 2,451.17 cr’
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Zomato’s internet losses elevated by as a lot as 160.63 per cent to Rs 2,451.17 crore within the 12 months to March 31, 2020, the corporate’s regulatory filings sourced from enterprise intelligence platform Tofler confirmed.
Revenue from operations grew by a little bit over 100 per cent y-o-y to Rs 2,336.34 crore. Online ordering, Zomato Gold enterprise and advert gross sales drive the lion’s share of the corporate’s revenues. The firm’s whole bills stood at Rs 4,627.75 crore practically 40 per cent increased in comparison with Rs 3,383.56 crore it spent in FY19.
Zomato had earlier stated the agency’s gross merchandise worth (GMV) for the core India meals supply enterprise rose to $1,496 million in FY20 from $718 million in FY19, a rise of practically 108 per cent. “Unit economics in online ordering improved significantly with increased revenue, lower logistics costs and user discounts,” the corporate stated.
