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Company’s quarterly result
In the second quarter of this financial year, the company reported losses. Zomato’s net loss was Rs 251 crore. But in the second quarter of last financial year it was Rs 429.26 crore. As a result, the net loss is reduced. Zomato also announced that the quarter that ended in September was the first quarter in which the company crossed the billion dollar mark in annual revenue. The company’s revenue has grown by 62.2% to Rs 1,661 crore from Rs 1,024 crore.
But the value and volume of online orders is high. Zomato is the oldest food delivery platform in the country.
Dismissal before this..
In May 2020, the company also conducted layoffs. 520 people lost their jobs that day. This was about 13% of the total workforce. The reason for the layoff that day was the lack of business after covid. Earlier in 2015, the company had asked about 300 employees to leave.
Also Read : Amazon; Jeff Bezos wants mass layoffs in one place, property in another
The departure of prominent people
The company is now facing the loss of key positions. The latest of these is the resignation of company co-founder Mohit Gupta. He was the chief executive of the company’s food delivery unit. He has held several key positions at Zomato.
Earlier last week, the company announced that Rahul Ganju, the company’s head of new projects, was leaving Zomato. The company’s Chief Financial Officer Nitin Savara and Global Growth Vice President Siddharth Jawar also left the company recently.
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