Zomato dissolves Singapore-based subsidiary

Zomato said it has dissolved its step-down Singapore-based subsidiary, Zomato Media, with effect from 7 December 2021.

Zomato is one of the leading Food Services technology platforms in India in terms of value of food sold, as of 31 March 2021.

On a consolidated basis, the food delivery company reported a net loss of Rs 434.90 crore in Q2 September 2021 as against a net loss of Rs 229.80 crore in Q2 September 2020. Net sales surged 140.40% to Rs 1,024.20 crore in Q2 FY22 over Q2 FY21. Adjusted revenue in Q2 FY22 stood at Rs 1,420 crore ($189 million), recording a 22.6% growth quarter-over-quarter (Q-o-Q) and 144.9% growth year-over-year (Y-o-Y).

 

Shares of Zomato were down 0.68% at Rs 146.60.

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