Zomato Q1 results: Net loss narrows to Rs 186 cr; revenue rises 68%

Food delivery firm Zomato Ltd, backed by China’s Ant Group, said on Monday its consolidated quarterly loss narrowed helped by an increase in orders for restaurant meals on its platform.

Net loss was at Rs 186 crore for the three months ended June 30, compared with a loss of Rs 356 crore a year ago, the company said in a regulatory filing. The company’s consolidated revenue from operations rose, which mostly comes from its mainstay food delivery and related fees it charges restaurants for using its platform, 68% to Rs 1,414 crore as against Rs 844 crore in Q1FY22.

On Monday, the company’s scrip on BSE closed 1% lower at Rs 46.35.