Zomato’s losses more than tripled in its first quarterly earnings report since its listing last month as the company’s expenses grew and the pandemic hit the firm’s dining-out business.
The Gurgaon-headquartered firm reported (PDF) a net loss of $48 million in the quarter that ended in June, up from about $13.5 million during the same period last year.
The 12-year-old firm also reported strong revenue growth, moving from $35.7 million to $113.4 million during the aforementioned period as more people in the country began to order food online.
The firm said it delivered more than 100 million food orders last quarter and …
