Zomato soars 9% as net loss narrows to Rs 186 cr in June quarter

The contribution as a percentage of gross order value (GOV) increased to 2.8 per cent in Q1FY23, against 1.7 per cent in Q4FY22, driven by improvements on both cost and revenue sides.

Shares of Zomato’s soared 9 per cent to Rs 50.45 on the BSE in Tuesday’s intra-day trade after the food aggregator reported a consolidated loss of Rs 186 crore in the first quarter of 2022-23 (Q1FY23). The company's losses declined both on year-on-year (YoY) and sequential bases. The company’s consolidated loss was Rs 359 crore in Q1FY22 and Rs 359.7 crore in Q4FY22.

In Q1FY23, the company’s revenue jumped 67.45 per cent YoY and 16.7 per cent quarter-on-quarter (QoQ) at Rs 1,414 crore. The revenue growth was driven by a 10 per cent QoQ jump in gross order value