Of the total orders that Zomato caters to via regional languages, orders placed in Hindi and Tamil account for 54% and 11%, respectively
Zomato’s food delivery business stood at $1.6 Bn in the first half of FY23
According to equity research firm Jefferies Swiggy is losing its market share to Zomato despite offering deep discounts
Foodtech unicorn Zomato has said that its mobile app is now available in Hindi and some other regional languages such as Bengali, Gujarati, Kannada, Malayalam, Punjabi, Marathi, Tamil and Telugu.
Zomato is presently delivering over 150K orders every month through the regional languages versions of its app. Of these orders, Hindi and Tamil account for 54% and 11%, respectively, while the remaining languages are rapidly growing, Zomato told Business Standard.
“While we are grateful for the positive sentiment, we recognise that we’re just getting started. We will continuously work on improving the quality of our regional apps to make them more accurate and contextual,” Zomato said.
The development has come at a time when Zomato informed stock regulatory body SEBI that it spent INR 380 Cr on ESOP expenses, salaries and other employee benefits to its three key managerial personnel (KMP) – Zomato’s CEO Deepinder Goyal, CFO Akshant Goyal and company secretary Sandhya Sethia in the first half of financial year 2022-23 (FY23).
Zomato further stated that Deepinder Bedi and Akshant Goyal gave up their salaries for the first half of the current financial year.
Zomato has seen a leadership exodus this year, with cofounders Mohit Gupta and Gaurav Gupta, vice-president of global growth Siddharth Jhawar, head of food delivery Rahul Ganjoo stepping down from their roles.
Amid this, the foodtech unicorn also reported that it laid off about 150 employees to increase cash flow and trim costs.
Recently, equity research firm Jefferies said that Swiggy is losing its market share to Zomato despite offering deep discounts. According to a report, Zomato’s food delivery business stood at $1.6 Bn in the first half of FY23, while Swiggy’s gross order volume stood at $1.3 Bn in the corresponding period.
In the September quarter of FY23, Zomato reported a consolidated loss of INR 250.8 Cr against INR 434.9 Cr losses incurred in the same quarter last year.
Meanwhile, its revenue from operations jumped 62% year-on-year (YoY) to INR 1,661.3 Cr in the September quarter from INR 1,024.2 Cr revenue generated in the year-ago period.
