By Express News ServiceNEW DELHI: Food delivery and hyperlocal e-commerce company Zomato’s consolidated net losses increased 89% year-on-year to Rs 440 crore in the quarter-ended September 2021. Adjusted EBITDA loss increased to Rs 310 crore in September 2021 quarter as compared to Rs 170 crore in the previous quarter (Q1 FY22) and Rs 70 crore in the second quarter of last year. The company’s expenses also trebled year-on-year to Rs 1,602 crore in the second quarter this year compared to Rs 585 crore last year. Meanwhile, the company today announced two acquisitions -- one in hyperlocal commerce space and another in the logistics solution technology space. It acquired 8% stake in Bigfoot Retail Solutions Pvt Ltd for Rs 557 crore and 16% in Samast Technologies Pvt Ltd for Rs 371 crore.

Source: Indian Express November 11, 2021 04:16 UTC