Zomato Q1 Report: Zomato suffered a loss of Rs 359 crore in the first quarter, this is the reason for the increase in expenses compared to earnings

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Zomato Q1 Report: Online food delivery platform Zomato’s first quarter loss has increased to Rs 359 crore. Giving information about this on Tuesday, the company said that during the last financial year, it had a loss of Rs 99.8 crore in this period. According to Zomato, this loss has happened due to increase in expenses as compared to earnings. Let us tell you that Zomato had launched its IPO in the stock market only last month.

According to the Zomato company, after creating the Employee Stock Ownership Plan (ESOP 2021) scheme, a lot of funds have been released for this in this quarter. Due to this expenditure on ESOP, the company has incurred this loss in the June quarter.

According to a statement issued by Zomato, “The revenue during this quarter was Rs 844.4 crore. It was Rs 266 crore in the same period last year. However, the company’s expenses increased to Rs 1,259.7 crore in this quarter. While In the June quarter last year, it was Rs 383.3 crore.

How much do Zomato delivery partners earn?

According to Zomato founder and CEO Deepinder Goyal, the top 20 per cent of the company’s delivery partners who deliver on bikes and work more than 40 hours a week, on an average get paid more than Rs 27,000 per month. As of July, the company has 3.1 active delivery partners.

Deepender Goyal and Zomato CFO Akshat Goyal said in a letter, “We pay our delivery partners due diligence. There are opportunities to earn more together, which is probably the reason why he likes to work with us.”

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