Food delivery platform Zomato on Friday posted net loss for the fiscal fourth quarter at Rs 187.60 crore that narrowed from Rs 359.70 crore in the same quarter last year. It posted revenue from operations at Rs 2,056 crore, up 69.7 per cent from Rs 1211.80 crore in the fourth quarter last year. In a regulatory filing, Zomato said that the business, excluding quick commerce, turned adjusted EBITDA positive in Q4FY23 driven by the food delivery business generating Rs 78.00 crore of Adjusted EBITDA in the quarter. “In August 2022, we had announced that this business will get to break-even within the next 3-5 quarters, and we are pleased to have delivered on that goal in the third quarter post that announcement, the company said.Â
