Zo­mato rev­enues up 3x, gold plan sees growth

The Times of India (New Delhi edition) - - Times Business -

Ben­galuru: On­line food de­liv­ery and restau­rant dis­cov­ery plat­form Zo­mato said its rev­enue grew by 225% to $205 mil­lion (Rs 1,459 crore), while manag­ing to re­duce its burn rate by about 40% in the first six months of the cur­rent fi­nan­cial year, com­pared to the same pe­riod last year.

Zo­mato, which is in mid­dle of rais­ing $400-500 mil­lion from new and ex­ist­ing in­vestors, clocked 214 mil­lion or­ders worth $821 mil­lion dur­ing the pe­riod end­ing in Septem­ber 2019. The startup did not dis­close ab­so­lute num­bers on its profit or losses in this re­port. At the end of March 2019, the com­pany had said it cut its losses for each de­liv­ery by over 40% at Rs 25.

“We achieved tremen­dous re­sults in op­ti­mis­ing our costs, with­out af­fect­ing new prod­uct launches or in­no­va­tion,” Zo­mato said in the hal­fyearly re­port. While the com­pany faced sev­eral weeks of protests from restau­rant part­ners over its Gold pro­gramme, the Gur­gaon-based com­pany said ac­tive restau­rants on Gold has in­creased to 6,300 com­pared to 6,100 when the #lo­gout cam­paign was started by Na­tional Restau­rants As­so­ci­a­tion of In­dia (NRAI) in Au­gust.

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