Zomato news today - Is Zomato winding up its business? The company exited 225 cities, know how much the loss has increased

 Zomato news today - Is Zomato winding up its business? The company exited 225 cities, know how much the loss has increased

Zomato exited 225 smaller cities in January. The company has taken this decision because the performance of these cities

is not very encouraging. Zomato has taken this decision at a time when its project to recruit 800 posts is ready 

Zomato, the country's leading online food delivery platform, has moved out of 225 cities. The company has announced

that it has stopped operating in 225 small cities. The company took this decision as the performance of these cities has not

been very encouraging. Zomato's Zomato Q3 result shows that the losses of this food delivery technology company are

high. The company has made a loss of Rs 346.6 crore in the December quarter. In the last quarter, the company reported a

loss of ₹251 crore and ₹63 crore in the same period a year ago. The company has gone through this loss due to a decline

in food delivery activities  

The company said in its third quarter report, 'The current slowdown in demand was not expected at all.' This has affected

the growth of food distribution profits. But despite this, we believe we are well positioned to meet our earnings target  

800 posts recruitment project

Zomato is one of the most uti

lized food conveyance application in India. You have recently relaunched your Gold

membership to increase your earning. Significantly, the decision to exit 225 cities has come at a time when the company is

making a project to recruit people for 800 posts  

The company is no longer present in 225 cities

The company said in its third quarter report that Zomato exited 225 small cities in January. It contributed 0.3% to gross

order value in the December quarter. Speaking about the decision, the company said: "The performance of these cities in

recent quarters has not been very encouraging. We do not find the payback period acceptable for our investments in these

cities.

Share Zomato

Shares of food

delivery company Zomato closed on Friday. The stock closed at Rs 53.30, down 2.02% or Rs 1.10. The

stock's 52 week high is Rs 95.30 and low is Rs 40.55. The company's market capitalization on BSE stood at Rs 45,580.80

crore on Friday.