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May, 31 2018

Zomato Sees Increase in orders, Info Edge Slips in Loss

The company witnessed an increase in its order volumes, an important metric for companies in this space, but its average order values have dropped as it goes head-to-head against competitor Swiggy.

Zomato has seen a huge improvement in user metrics towards the end of FY18, said its largest shareholder Info Edge at the financial results on May 30.

The company witnessed an increase in its order volumes, an important metric for companies in this space, but its average order values have dropped as it goes head-to-head against competitor Swiggy.

The investor maintained that Zomato’s average order value is still higher than that of Swiggy. Info Edge’s Sanjeev Bikhchandani further added that Zomato, which has narrowed the gap between itself and Swiggy, will continue to spend aggressively as it rapidly expands in India.

In April, Zomato had said that it saw a 45% increase in revenues to Rs 481 crore ($74 million) for FY18 while there is a slight reduction in operational burn to about $11 million compared to $15 million in FY17. Meanwhile, the net loss of Info Edge on a standalone basis was Rs 13.7 crore for the quarter ended March 2018 as opposed to its net profit of Rs 32.8 crore in the previous fiscal.

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