Zomato makes profits but losses also triple
Advertisement
At a time when online food ordering apps and services are on the verge of shutting down, Zomato India almost doubled its revenues to Rs 87.5 crore. However, the company also saw losses increase three-fold.
For fiscal 2016,Zomato India registered revenues from Rs 46 crore in 2015 to Rs 87.5 crore in 2016.
Info Edge, which owns 47% stake in Zomato, stated that India accounted for 47.3% of Zomato's overall revenues that stood at Rs 184.97 crore for FY16.
But, the company also made losses in India that shot up to Rs 247 crore in 2016, more than three times from Rs 62.3 crore loss in 2015.
Meanwhile, Zomato posted losses of Rs 95.9 crore on revenues of Rs 34.7 crore for the fiscal in Asia Pacific region.
Earlier, Zomato CEO Deepinder Goyal had stated that revenue share of India and UAE dipped from 65% last year to 50% as of May 2016.
In February, Zomato had also claimed to have achieved operational break-even in six countries including India, the UAE, Lebanon, Qatar, the Philippines and Indonesia.
In American market, Zomato registered a net loss of Rs 327.5 crore on revenues of Rs 6.73 crore for the fiscal.
Zomato entered the US in 2015 with the $52-million Urbanspoon acquisition.
In terms of segments, online advertising still dominates Zomato's revenues, accounting for 91.4% of the company's overall revenues. The segment's revenues grew by 76.1% toRs 169.1 crore for FY16, from Rs 96 crore in FY15.
Advertisement
For fiscal 2016,
Info Edge, which owns 47% stake in Zomato, stated that India accounted for 47.3% of Zomato's overall revenues that stood at Rs 184.97 crore for FY16.
But, the company also made losses in India that shot up to Rs 247 crore in 2016, more than three times from Rs 62.3 crore loss in 2015.
Meanwhile, Zomato posted losses of Rs 95.9 crore on revenues of Rs 34.7 crore for the fiscal in Asia Pacific region.
Advertisement
In February, Zomato had also claimed to have achieved operational break-even in six countries including India, the UAE, Lebanon, Qatar, the Philippines and Indonesia.
In American market, Zomato registered a net loss of Rs 327.5 crore on revenues of Rs 6.73 crore for the fiscal.
Zomato entered the US in 2015 with the $52-million Urbanspoon acquisition.
In terms of segments, online advertising still dominates Zomato's revenues, accounting for 91.4% of the company's overall revenues. The segment's revenues grew by 76.1% toRs 169.1 crore for FY16, from Rs 96 crore in FY15.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market