Zomato loss widens to Rs 347 crore on biz slowdown, Blinkit buy

Restaurant aggregator Zomato’s losses widened to Rs 346.6 crore for the quarter that ended in December (2022-23, or FY23), compared with Rs 63.2 crore in the corresponding period of the previous financial year (2021-22). The food delivery giant had reported a net loss of Rs 250.8 crore in the second quarter (Q2) of FY23.

Losses widened nearly 5.5x year-on-year (YoY) owing to the inclusion of Blinkit. This is the first full quarter after the completion of the acquisition of Blinkit.

Revenue for the food delivery company, however, surged 75 per cent to Rs 1,948.2 crore, compared with Rs 1,112 crore in the year-ago period.