Zomato said it is in the process of selling Fitso to Curefit (Curefit Healthcare Pvt Ltd) for $50 million, and is also investing cash in Curefit. Net $50 million cash investment plus value of the Fitso business (worth $50 million) will give Zomato a cumulative shareholding worth $100 million in Curefit (6.4 percent shareholding in Curefit).
The company said it has also signed definitive documents for investing $75 million in logistics player Shiprocket for a 8 percent stake as part of a larger $185 million round.
The company saw revenue grow by 22 percent sequentially to $189 million in the September quarter, while EBITDA losses also grew to $41 million , a near 2x increase sequentially and a 4x jump year on year.
When it comes to profitability, contribution as percentage of gross order value was 1.2 percent in Q2 FY22 as compared to 2.8 percent in Q1 FY22.
The company said reduction in contribution margin was on account of increased investments in growth geographies, ie growing share of smaller, emerging cities in our business, as well as an increase in delivery cost per order (Rs 5 per order increase in Q2 FY22 as compared to Q1 FY22).
(Edited by : Aditi Gautam)
First Published: IST
