Food tech giant Zomato delivered mixed menu of earnings to it's investors as it reported a widening loss of Rs 356 cr in the first quarter. However shareholders of the mega debut IPO can take solace that the sales growth of the newly-listed company clocked in a jump of 26 per cent year-on-year to Rs. 1,160 crore for the reported quarter.
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The total income of Zomato stood at Rs 916 crore which is a sizeable jump from a revenue of Rs 283.5 crore in the same period year ago. Infact the the gross order value of the business grew more than four-fold year-on-year to Rs. 4,540 crore in Q1 which is a 37% jump (QoQ). The widening loss figure can be attributed to non-cash ESOP expenses, which have increased meaningfully in Q1FY22 due to significant ESOP grants made in the quarter pursuant to the creation of a new ESOP 2021 scheme," Zomato chief executive officer (CEO) Deepinder Goyal said in a statement.
Online food ordering firm Zomato also delivered its billionth order last week, co-founder and chief executive officer Deepinder Goyal said on August 10. Goyal said in a blog that "It took us six years to get to this milestone and we hope it takes us much less time to deliver the next billion. The fact that 10 percent plus of these billion orders were delivered only in the last three months makes us confident about getting to the next billion much sooner."