Zomato said its fiscal second-quarter deficit narrowed from the previous year due to a significant increase in revenue from meal delivery and its wholesale Hyperpure segment.
The company reported a net loss of Rs 251 crore for the quarter ended 30 September, down from Rs 430 crore the previous year. Revenue from operations increased by 62 per cent to Rs 1,661 crore, up from Rs 1,024 crore. The earnings include around 50 days of Blinkit’s financials, as Zomato closed its acquisition of the quick delivery startup in August.
On Thursday, Zomato’s share price fell 2.53 per cent to Rs 63.65. The company’s adjusted Ebitda (earnings before interest, taxes, depreciation, and amortization) loss shrank to Rs 192 crore from Rs 310 crore the previous year. It computes adjusted Ebitda by adding share-based payment expenses and subtracting the period’s rental payment.
Adjusted revenue from food delivery operations increased by 27% to Rs 1,581 crore from Rs 1,248 crore the previous year. The average monthly transactional user climbed to 17.5 million from 15.5 million in the previous fiscal term.
However, the average number of active restaurant partners fell slightly to 207,000, down from 208,000 in the previous quarter. In the previous September quarter, the figure was 170,000.
In the third quarter, Hyperpure, Zomato’s B2B supply vertical, tripled its adjusted sales to Rs 334 crore. The adjusted Ebitda loss for the segment climbed to Rs 53 crore.
Blinkit’s gross order value increased by 26 per cent quarter over quarter to Rs1,482 crore. The vertical’s adjusted revenue increased 44 per cent quarter on quarter to Rs 236 crore, while the adjusted Ebitda loss decreased to Rs 259 crore.
Zomato Pro revenue fell drastically to Rs 9 lakh as the business terminated its dining-out and membership platform in the previous quarter to focus on loyalty programmes.
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