Zomato has reportedly decided to focus on areas that have the potential to become a meaningfully large business in the next ten years. According to a report, the plans for the food delivery platform are focused on three areas, food ordering and delivery, quick commerce and providing supplies to restaurants. The company’s renewed focus was reportedly revealed to shareholders at Zomato’s annual general meeting on Tuesday. According to a report, the shareholders were also informed that the food delivery business of the firm is heading towards profitability.
At the company’s annual general meeting on Tuesday, Zomato Chairman Kaushik Dutta revealed that the company will focus on food delivery, the company’s hyperpure service and accelerated commerce, according to a report in PTI.
According to Dutta, the company was able to “keep its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) under control” while achieving strong growth amid the ongoing coronavirus pandemic and economic concerns in the current fiscal.
Dutta reportedly said that following the COVID-19 related lockdown as well as the company’s decision to shut down its international operations and non-core businesses, Zomato reported a 15 per cent growth in dining-out-related areas in the current financial year. saw a decline.
According to the report, the company will now focus on areas that can grow into meaningfully larger businesses over the next decade, taking into account the size and scale of the platform. The shareholders were also informed that the company’s business is stable and headed towards profitability, while there was a huge runway for the growth of the food delivery industry in India, according to PTI.
According to Dutta, Zomato currently has 4,500 EV delivery partners, while 18 per cent orders were placed on cycles till March. Meanwhile, the company is reportedly planning to put a phone number on the bags of its partners, which customers can call to report faster.
The company’s president also noted that there has been an increase in the adoption of the company’s hyperpure supply services for restaurants. Dutta said Zomato’s acquisition of Blinkit was completed in August and the company was working on integrating personnel, as per reports.
