Zomato service stop..!? In which country..!?

Famous food delivery company zomato has announced that it is going to stop its food delivery service in the UAE. It has also been announced that customers coming to zomato will be redirected to the Talabat app. zomato sold its UAE-based business to Kuwait-headquartered Talabat in 2019 for $172 million. After this sale, Talabat was rendering services in return for cost reimbursement. Now it has also announced that the rendering service will be discontinued from november 24, 2022. customers looking to order food through the zomato app in the uae will be redirected to Talabat as per contractual terms, zomato said in a filing to the stock market. zomato also said that this suspension of services will not affect the company financially in any way.
Zomato also said it will continue to offer restaurant discovery and dining out services in the UAE. They intend to tell the exchange that the company will not be affected by this suspension. uae was Zomato's global debut in 2012. It accounted for 20% of its total orders. This being Zomato's first expansion, it has now taken such a step.Meanwhile, Zomato's net loss was Rs 434.9 crore last year. 250.8 crore this year. The same operating income ratio increased by 62.20% to Rs 1661.3 crore. As for India, its net sales increased to Rs 1177.90 crore in the september quarter. This is 31.3% over last year. It was Rs 897.10 crore last year.Similarly, its net profit increased by 102.82% to Rs 11.70 crore. It posted a loss of Rs 414.20 crore last year. Its EBITDA ratio increased by 117.44% to Rs 56.90 crore. The same EPS ratio was 0.01.

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Sowmiya Sriram

15/11/2022 03:33 PM