Zomato Q1 Results FY2023, Net loss at Rs. 185.7 crores

On 1st August 2022, Zomato announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The revenue from operations stood at Rs. 1413.9 crores, with a growth of 67.44% YoY, the revenue growth was driven by growth in gross order value and growth in revenue per order

- EBITDA narrowed to Rs. (150) crores in Q1FY23 compared to Rs. (220) crores in Q4FY22 and Rs. (170) crores in Q1FY22.

- The food delivery company reported a net loss of Rs. 185.7 crores in Q1FY23 as against the net loss of Rs. 356.2 crores in Q4FY22.

Business Highlights:

- Zomato’s Gross Order Value (GOV) stood at Rs. 6430 crores with a growth of 41.6% YoY. The GOV growth was driven by the robust growth in order volumes and mild growth in the average order values as compared to Q1FY22. The contribution % of GOV grew to 2.8% in Q1FY23 from 1.7% in Q4FY22.

- The average monthly transacting customers grew by 36% in Q1FY23, and the average monthly order frequency increased by 10%.

- Hyperpure business reported revenue at Rs. 270 crores with a 260% yearly growth. 

- About 97% of the voters voted in the favour of Blinkit's acquisition. Zomato is now waiting for approval from the stock exchanges. Blinkit’s financials will get consolidated into Zomato’s consolidated financial statements after the closing.