Zomato’s consolidated net loss for Q3FY23 widened to Rs 347 crore against Rs 63 crore registered in the same quarter last year, the online food delivery platform announced on February 9. For Q2FY23, the net loss stood at Rs 251 crore.
The Gurugram-headquartered company’s revenue from operations zoomed 75 percent to Rs 1,948 crore year-on-year (YoY) as against Rs 1,112 crore in the corresponding quarter last year. Sequentially, revenue improved by 17 percent as against Rs 1,661 crore reported for Q2FY23.
The company’s adjusted EBITDA loss increased to Rs 265 crore in the December quarter as compared to Rs 192 crore in the quarter ended in September 2022. Adjusted EBITDA loss stood at Rs 272 crore in the corresponding quarter of the previous year.
For the food delivery business, the gross order value (GOV) growth was 22 percent year-on-year (YoY) and 1 percent year-on-year (QoQ), driven by growth in both order volumes and average order value.
Growth in revenue per order led to a higher adjusted revenue (for food delivery) growth of 30 percent YoY while declining and 1 percent sequentially.