Zomato’s FY20 revenue grows 105% to $394 mn, loss rises 6% to $293 mn

Food delivery app Zomato said its revenue for the financial year 2020 (FY20) grew 105 per cent to $394 million, while loss rose about 6 per cent to $293 million.

In its annual report, Zomato said Covid-19 had accelerated the company’s journey to profitability, in spite of initial hiccups.

“While Covid-19 has impacted the size of our business, it has accelerated our journey to profitability. In terms of the size of the business, Covid-19 has set us back by a year or so — but a year is only a small blip when you are building a company for the next 100 years. Having said that, Covid-19 has positively impacted the health of our business — we seem to have gained 2-3 years along this vector.