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Food delivery aggregator Zomato on Monday reported an 18 percent increase in revenue quarter-on-quarter (QoQ) to Rs 1,800 crore, and a 56 percent as compared to the year-ago period. Its food delivery business was the biggest driver of this growth, accounting for Rs 1,430 crore for the quarter under review.

In its quarterly earnings report, Zomato reported Rs 6,430 crore in Gross Order Value as against Rs 4,540 crore in the year-ago period.

On the next quarter, CEO Deepinder Goyal said, "...monthly transacting customers are likely to drive larger growth in our view. If you compare Q1FY23 with Q1FY22, average monthly transacting customers have increased by 36 percent."

#1QWithCNBCTV18 | Zomato reports Q1 earnings.

▶️Net loss of Rs 185.7 cr Vs Rs 356.2 cr (YoY)▶️Net revenue up 67.4% at Rs 1,413.9 cr Vs Rs 844.4 cr (YoY)▶️EBITDA loss of Rs 307.30 cr Vs loss of Rs 376.50 cr (YoY) pic.twitter.com/IW83uKpesL— CNBC-TV18 (@CNBCTV18Live) August 1, 2022

He added, "Growth in monthly transacting customers will be a function of higher repeat rate of the existing customer base of Zomato (50+ million annual transacting customers in FY22) and new customer addition which remains robust," he added.

Zomato shares were under pressure on Monday, halting a three-day winning run, as investors awaited the release of the food delivery company's quarterly earnings. The Zomato stock fell by as much as Rs 1.8 or 3.8 percent to Rs 45.1 apiece on BSE — coming within Rs 5 of a record low hit last week.

On the company's acquisition of Blinkit, Goyal said, "We have received the shareholders’ approval for the transaction. 97 percent+ votes were in favor of the transaction. We are now awaiting approval from stock exchanges. The financials of Blinkit will start getting consolidated into Zomato’s consolidated financials post the closing."

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First Published:Aug 1, 2022 6:49 PM IST