Zomato net loss narrows 81% to Rs 66 cr in Q3, revenue grows 86%

The firm will invest $400 mn in quick commerce over next two years

Food delivery company Zomato saw its net loss narrow by 81 per cent year-on-year (YoY) to Rs 66 crore in the December quarter (Q3). Meanwhile, its revenue rose 86 per cent YoY to Rs 1,112 crore in Q3.

On a sequential basis, the foodtech company saw its revenue rise 9 per cent from Rs 1,024 crore in Q2, whereas net loss slimmed by 85 per cent from Rs 430 crore in Q2.

Zomato said it will continue to invest both in its core food business and in quick commerce, and raised the upper bound of potential investments in this category to $400