Online food delivery platform Zomato on Tuesday said its revenue for the first half of the financial year 2019-20 saw a massive three-fold jump - from $63 million in the same period in 2018-2019 to $205 million this time.
Zomato said that its monthly burn rate was down to 60 per cent of what it was six months ago and that its EBIDTA loss was 40% lower in September 2019, as compared to March 2019.
"We achieved tremendous results in optimising our costs, without affecting new product launches or innovation," the company said in a statement.
Zomato is now present in over 500 cities across the country.
"Our order volumes in top 15 cities have doubled in the last 12 months; while the remaining cities already contribute 35 per cent to our order volumes,' said the company, adding that it is currently working with over 200,000 delivery partners.
From the total cyclist fleet of 23,000, the company has most number of cyclist fleet -- 6,100 -- for delivery in Delhi and the average delivery time is 25.7 minutes.
The number of restaurant listings globally on Zomato has grown from 1.2 million in September 2018 to 1.5 million in September 2019.
"On table reservations, we've grown from 800,000 booked covers in January 2019 to 1.3 million booked covers in September 2019 - organically and with zero investment," the company announced.
The company said its food@work business is growing well, and some very large accounts are slated to go live soon.
"We are already doing nearly 3 million orders a month for food@work," said Zomato.
Speaking of its most contentious offering, Zomato said that despite the Logout campaign run by the National Restaurant Association of India (NRAI), more dine-out restaurants have joined its Gold programme in days that followed, and those who returned to Gold have seen a 100% increase in revenue.
At the start of the Logout campaign that began on August 15, Zomato had 6,100 restaurants in India on Zomato Gold for dining out.
"As of today, we have 6,300 restaurants in India on Gold (for dining out). In addition to that, we have 10,000 restaurants that are participating in recently launched Zomato Gold for delivery," the company said in a statement.
The NRAI has slammed Zomato for extending its "Gold" programme on its delivery platform, saying it is a desperate attempt by the online food aggregator to shore up the sinking fortunes of its flagship Gold programme.
According to Zomato, the number of restaurants participating in Gold outside of India stands at 6,500.
The company said it now have 1.4 million members worldwide on Zomato Gold who are using their privileges more than thrice a month.
"So far, less than 5 per cent restaurants participate in Zomato Gold, and less than 5 per cent of our MAUs (monthly active users) are Gold members. There's so much headroom to grow here,' said the company.
"Some restaurant owners in India campaigned against Zomato Gold last month (#logout campaign); we engaged with the restaurant owner community and rolled out some changes to the programme that were widely accepted by most restaurants, as well as users," the online food aggregator said.
