Zomato Q1 net loss widens to Rs 356 crore; revenue rises to Rs 844 crore

In its first quarterly results after its listing last month, food delivery platform Zomato said its net loss widened in the first quarter (Q1) ended June 30 due to increased expenses and a hit on dining out as the second wave of the Covid-19 pandemic upended lives and livelihoods.

Zomato also crossed one billion overall orders on the platform last week.

The total loss attributable to equity shareholders rose to Rs 356 crore, from Rs 99.8 crore a year ago. Adjusted earnings before interest, tax, depreciation, and amortisation (Ebitda) loss widened nearly 42 per cent to Rs 170 crore on a quarterly basis.

Revenue from operations in Q1 rose to Rs 844.40 crore, from Rs 266 crore a year ago.