Online restaurant guide and food ordering company Zomato has posted around 80 per cent growth in revenue to US$ 49 million (INR 318 crore) for 2016-17 as the company significantly cut down expenditure. Zomato had clocked revenue of US$ 27.6 million (over INR 179 crore) in the same period of the previous fiscal.
Along with a growth in revenue, the company also reduced its annual operating burn to US$ 12 million (over INR 77 crore) in 2016-17, from US$ 64 million (over INR 415 crore) in 2015-16, Zomato’s chief of staff Surobhi Das said.
“Meanwhile, we beefed up our focus on product, engineering and traffic growth, helping our overall traffic and engagement numbers immensely. The company’s food ordering revenue also grew to US$ 9 million in 2016-17, eight times of 2015-16,” she said.
Zomato is now present in 13 cities in India and three cities in the UAE. The company is also preparing for launching food ordering in Beirut.
Zomato provides information about restaurants in over 10,000 cities across 23 countries.