The good news is that amid moderating growth, the online food delivery company has met its target in Q4, turning adjusted Ebitda positive of ₹28 crore. One factor that led to better-than-expected profitability was higher take rate in Zomato’s core business, which is food delivery. Here, contribution profit as percentage of gross order value (GOV) rose to 5.8% from 5.1% in Q3. Take rate is revenue as a percentage of GOV.
While this is encouraging, growth in food delivery business has been tapering. For perspective, sequential GOV growth in Q1, Q2 and Q3 was around 10%, 3% and 0.7%. Zomato rushed to reverse slowdown through launch of membership programme Zomato Gold in late January. However, the industry wide slowdown has meant GOV fell by 1.7% sequentially in Q4 to ₹6,569 crore.
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Denne historien er fra May 23, 2023-utgaven av Mint Mumbai.
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