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Zomato Says Its Food Delivery GMV Has Recovered To 60% Of Pre-Covid Levels

Zomato expects its business to recover from Covid disruptions in the next three to six months.

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Restaurant aggregator and food delivery firm Zomato expects its business to recover from Covid disruptions in the next six months.

In its mid-Covid-19 performance report released on Friday, July 10, 2020, Zomato said its total revenue is estimated to reach nearly 60 per cent of pre-Covid peaks of $23 million per month by July.

Gross merchandise value (GMV) for the firm’s core food delivery business that dipped by 80 per cent in the last week of March against the peak pre-Covid week in mid-February — the lowest point in two years — has now recovered to almost 60 per cent of pre-Covid levels, it said.

“We expect sharp recovery in order volumes as lockdowns continue to ease and the operating environment continues to improve,” the Gurgaon-based company said.

Zomato’s FY20 GMV for the India food delivery business grew by 108 per cent year-on-year to $1.49 billion.

Total revenue increased by 105 per cent y-o-y to $394 million in FY20 while costs rose by 47 per cent during the period, the firm said.

Revenue during the April-June quarter stood at $41 million. Zomato did not disclose revenue figures for Q1FY20. Ebitda losses, however, increased to $293 million in FY20 from $277 million in FY19. Zomato claims that its monthly burn rate will be below $1million this month.

Zomato has launched ‘Contactless Dining’ in India and eight other countries. The facility allows users to visit a restaurant without needing to touch any menu cards or interact with restaurant staff. During the pandemic food delivery companies have been providing training to its delivery partners on best health practices, utilizing apps and SMS services to broadcast various WHO and the Ministry of Health recommendations.  

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