According to reports, food aggregator Zomato Ltd reports a loss of Rs. 359.7 crore for the quarter-ended March compared with a loss of Rs.138.1 crore during the same period of the preceding year.

The net loss widened despite a rise in other income to Rs.138.2 crore from Rs.58.4 crore. For the year-ended FY22, Zomato’s net loss widened to Rs.1, 222.5 crore from Rs.816 crore in FY2021.

The aggregator’s gross order value for the last quarter of the fiscal has surged to a record Rs.5, 850 crore, a growth of 77 percent year-on-year and six percent quarter-on-quarter.

The company claims to have seen tremendous growth, especially during Q3 and Q4 of financial year 2021-22, as the country crawled back to normalcy from a raging pandemic, giving a boost to the dine-out and travel segments.

Deepinder Goyal, founder, Zomato says, “We believe that was a one-time correction of our growth trajectory on the back of two strong quarters. We think our growth trajectory is back on track and we don’t foresee ‘post-covid ramifications’ affecting our growth rate anymore.”

Reports suggest that, on a free cash flow basis, the company saw an outflow of Rs.210 crore in Q4FY22. It is very keen on conserving cash as it feels that all minority equity investments have been completed.

Zomato also reported a record number for average monthly transacting customers for the quarter-ended March, at 1.57 crore users compared to 98 lakh year-on-year.

Besides, the food and grocery delivery platform saw its revenue from operations more than double in the period under review at Rs.4, 192.4 crore from Rs.1,993.8 crore during the year ago.

Goyal says, “The minority investments that were made from time-to-time tap into economies of scale and build unbeatable moats that will serve customers for multiple decades.”