Key highlights from Zomato Q2 results:
- The company's loss widened due to an increase in marketing expenses and delivery costs.
- Delivery cost per order increased by Rs 5 (approx.) from the previous quarter due to prolonged rainfall and fuel costs.
- The company has announced that it is in the process of selling Fitso to Curefit for $50 million. With an additional investment of $50 million in net cash along with Fitso, the company will purchase a 6.4 per cent stake in Curefit worth $100 million.
- They have also planned to invest $50 million in Hyperpure over the next 18-24 months.
- The company is also making two minority investments: $75 million in Shiprocket as part of a larger $185 million for an 8 per cent stake and $50 million with a total round size of $60 million for a 16 per cent stake.
- Zomato has now committed $275 million across four companies in the last 6 months including a $100 million investment in Grofers. They have planned to deploy $1 billion in the next 1-2 years in the quick commerce space.