Zomato Q3: Net loss of 67.2 crore

Online food delivery platform Zomato Ltd. released its third quarter’s earnings on Thursday. It has reported a loss of 67.2 crore, which surprisingly is good news for the company as it significantly recovered from the loss it registered in the same quarter of the previous fiscal year. It posted a net loss of 352.6 crores in the corresponding quarter of its last financial year. Zomato founder and CEO Deepinder Goyal said, ''We remain focused on the bigger picture and the long-term growth potential of our food ordering and delivery business in the years ahead. Zomato continues to benefit from the changes we are helping to drive in the overall restaurant industry.'' Its consolidated revenue from operations during October-December 2021 stood at Rs 1,112 crore as against Rs 609.4 crore in the year-ago period.