Bengaluru: Zomato Ltd reported a greater loss for the quarter ended June in the update of the first results since the list last month, was injured by a higher cost and as a business room of feeding the feeding company because of a pandemic.
The second wave of Covid-19 infection in this country significantly had an impact on the food business and reversed most of the industrial rises made in the previous quarter, the company said.
Consolidated net loss is Rs 356 Crore ($ 47.79 million) for the first quarter, compared to the loss of RS 99.8 Crore a year earlier, Zomato, which is also a restaurant aggregator in the submission of regulations.
The burden of non-cash ownership plans increased in the first quarter and also the result of affected, the company added.
The total expenditure of Zomato is more than three times to Rs 1,260 Crore.
Based in Gurugram, a New Delhi Capital Satellite City, this company produces most of its income from providing food and costs related to restaurant costs.
It also allows users to order tables online, leave reviews and take advantage of special discounts while eating in certain restaurants.
Together with Softbank-Backed Startup Swiggy, Zomato has dominated the shipping market that benefits from a pandemic when people live in and turn to online bookings.
Zomato’s dirty order in the quarter reported rose more than four times to Rs 4,540 Crore from the previous year, while income from operations rose to RS 844 Crore.
The company’s shares fell around 4% on Tuesday in front of the results, making them approximately ever since the launch of the stock market in Mumbai on July 23 which valued Zomato of more than $ 13 billion.
Zomato food delivery firm posted a greater loss in the first results since the IPO
