Zomato scales FY18 revenue by 40%, Losses Fall Almost 73%
Online food delivery and restaurant discovery firm Zomato has ended the financial year 2017-18 with a 40% growth in revenues at Rs 466 crore. The firm also reduced its losses by almost 73% to come in at Rs 106 crore in FY18 as compared to Rs 390 crore last year.
According to the reports, the firm witnessed its standalone revenues grow almost 25% to Rs 388 crore in FY18 from Rs 309 crore last year. Also, the standalone losses for FY18 fell 86% to Rs 78.5 crore this time.
“We demonstrated that our business can generate profits — almost throughout the year, we hit EBITDA breakeven globally, across all our business, and while maintaining good growth levels; and then in the last two months, we decided to double down on growth,” said Zomato Founder and CEO Deepinder Goyal.
The firm saw ...