Zomato, which announced its September quarter results this evening, reported a consolidated net loss of Rs 250.80 crore, which was sequentially higher than its June quarter loss (Rs 186 crore).
“Nor has there been any change in our capital allocation plans since the last quarter.
In Blinkit (earlier Grofers), it first made a $100 million investment, before buying out the quick commerce start-up for Rs 4,447 crore in an all-stock deal -- a move that displeased retail investors sending Zomato stock tumbling for days together.
Goyal further shared that going ahead the food delivery business will remain at the core of Zomato’s growth. “
“While our food delivery business has been growing and steadily moving towards profitability, I believe there is room for the business to grow much faster than what it is currently trending at,” he said.
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