Zomato's revenue doubles to Rs 2,743 crore, losses up 138 percent to Rs 2,386 crore

Food delivery platform Zomato reported its revenues for the financial year 2019-20 at Rs 2,743 crore on a consolidated basis, up about 100 percent since the last financial year. The Gurugram-based unicorn also reported a consolidated net loss of Rs 2,386 crore during the same fiscal, up 138 percent from the previous financial year, showed regulatory documents sourced from business intelligence platform Tofler. Zomato’s total expenses for the fiscal were reported at Rs 5,006 crore. During the financial year, Zomato had bought certain specified assets and received the benefits of certain covenants amounting to around Rs 1,376 crore from Uber India Systems Private Limited against the issuance of 76,376 compulsorily convertible cumulative preference shares. During the year under review, the firm’s authorised share capital rose from about Rs 272 crore to over Rs 422 crore. During the financial year, the firm has raised Rs 353 crore from Antfin Singapore Holdings Private Limited and Rs 38 crore from Pacific Horizon Investment Trust PLC. (Also Read: Zomato closes $660 million funding in Series J fundraise round making its valuation hit $3.9 billion ) Last year, **Uber announced that it had sold the India business of Uber Eats to Zomato** for a 9.99 percent stake in Zomato. Uber sold its Indian food delivery business to Zomato for $206 million. In December 2020, Zomato completed its primary fundraise worth $660 million taking up its valuation to $3.9 billion. The fundraise saw 10 new investors join Zomato including Tiger Global Management, Baillie Gifford, Luxor Capital, Kora Capital, Steadview, D1 Capital and Mirae Asset. Zomato also raised $140 million as a part of a secondary transaction.