The company’s loss has exceeded Rs 346 crores in the last quarter (Q3) that ended in December 2022. In a letter to shareholders Zomato’s CFO Akshant Goyal remarked that the performance of the company in 225 cities was not very encouraging. The company’s loss surged 5x while its consolidated revenue increased by 1.75x to Rs 1,948 crore in Q3FY23 (October to December). CFO Akhsant Goyal writes that the payback period in the 225 cities was not acceptable on the investment Zomato did. Meanwhile, amid the slowdown, Swiggy is selling Swiggy Access -

Source: Economic Times February 14, 2023 20:32 UTC