Zomato posts Rs 7,079 Cr revenue and Rs 971 Cr losses in FY23


Zomato’s gross revenue surged 68.9% to Rs 7,079 crore during the fiscal year ending March 2023 as compared to Rs 4,192 crore in FY22, according to the company’s consolidated financial statements reviewed by Entrackr.

Zomato primarily generates revenue from online platform services such as sale of food, advertisement, subscription, delivery facilitation et al to users, restaurant and delivery partners.


The company made around 64% of its operating revenue from food delivery and other platform services. This collection grew 32.8% to Rs 4,533 crore during FY23 from Rs 3,414 crore in FY22. Revenue from its B2B unit HyperPure increased 2.8X to Rs 1,506 crore in FY23, while collections from quick commerce business (Blinkit) stood at Rs 806 crore during FY23.


Besides this, Zomato’s non-operating income also inclined 37.7% to Rs 681.5 crore in FY23, taking the overall revenue to Rs 7,761 crore during the year.

Zomato’s food delivery biz posted a positive adjusted EBITDA of Rs 78 crore during the end of Q4 FY23, while the adjusted EBITDA for HyperPure and quick commerce biz were registered negative at Rs 45 crore and  Rs 203 crore, respectively, during the Q4 FY22.

Heading towards expenses, delivery and related charges accounted for 28.9% of the total expenses during the year, and surged 40% to Rs 2,537 crore in FY23 from Rs 1,814 crore in FY22.

Advertising-promotions costs surged to Rs 1,227 crore in FY23 from Rs 1,217 crore in FY22.


Spends on procurement of materials inclined 2.6X to Rs 1,395 crore during FY23 while employee benefits expense dwindled 10.3% to Rs 1,465 crore during the same period.

At the end, Zomato’s total expenditure spiked 41.4% to Rs 8,775 crore during FY23 in contrast to Rs 6,205 crore in FY22. Despite growth in expenses, its losses shrank by 20.5% to Rs 971 crore in FY23 against Rs 1,222 crore in the preceding fiscal year.

Following the increased cash burn, Zomato’s cash outflows from operations surged by 21.8% to Rs 844 crore during the last fiscal.

Coming to ratios, the EBITDA margin and ROCE of the company strengthened to -6.18% and -4.79%, respectively, in FY23. On a unit level, Zomato spent Rs 1.24 to earn a rupee of operating income.

On a quarterly basis, Zomato scaled up 5.5% to Rs 2,056 crore during the Q4 of FY23 from Rs 1,948 crore in Q3 of the same fiscal year. Losses of the company reduced by 46% to Rs 187 crore in Q4 as compared to Rs 346 crore during the third quarter of FY23.

Zomato’s arch nemesis Swiggy’s food delivery unit turned profitable (excluding ESOP costs) in March 2023.

Swiggy is yet to file its financial numbers for FY23 but the Prosus-backed firm’s scale shot up two folds to Rs 5,705 crore in FY22. However, Swiggy’s losses jumped 2.2X to Rs 3,629 crore in the fiscal year ending March 2022.

Zomato made its public market debut in July 2021 at a valuation of $12 billion. Since then, the Gurugram-based firm had a tumultuous journey as a public entity, losing around 45% of its market cap in the past 21 months. Its current market cap currently stands at $6.6 billion.

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