"Adjusted revenue grew by 26% quarter-over-quarter (“QoQ”) to Rs 1160 crore; year-over-year (“YoY”) growth is irrelevant (and unnaturally high) here since Q1FY21 was severely impacted by the first wave oflockdowns in 2020," Zomato said in a release.

"Revenue growth was largely on the back of growth in our core food delivery business which continued to grow despite the severe COVID wave starting April. On the other hand, COVID significantly impacted the dining-out business in Q1 FY22 reversing most of the gains the industry made in Q4 FY21," it added.

Zomato posted a pre-tax loss of Rs 359 crore in Q1 FY22, higher than pre-tax loss of Rs 99.8 crore in Q1 FY21. Hyperpure losses expanded in Q1 FY22 due to investments in growth, the company said.

Adjusted EBITDA loss stood at Rs 170 crore in Q1 FY22 as against Rs 120 crore in Q4 FY21. This is largely on account of non-cash ESOP expenses which have increased meaningfully in Q1 FY22 due to significant ESOP grants made in the quarter pursuant to creation of a new ESOP 2021 scheme. This divergence in reported profit/loss and Adjusted EBITDA will continue going forward, the company said in a statement.

India food delivery business reported the highest ever Gross Order Value (“GOV”), number of orders, transacting users, active restaurant partners and active delivery partners till date in any quarter in the company's history.

India food delivery GOV in Q1 FY22 grew by 37% QoQ to Rs 4540 crore, from Rs 3310 crore in Q4 FY21. GOV is defined as the total monetary value of all food delivery orders placed online on Zomato platform in India including taxes, customer delivery charges, gross of all discounts, excluding tips.

Shares of Zomato were up 3.12% at Rs 128.85 on BSE.

Zomato is one of the leading Food Services technology platforms in India in terms of value of food sold, as of 31 March 2021. The company is present in 23 countries. However, the company earns majority of its revenues from India which contributed 90.6% of its total revenues in FY2021 while United Arab Emirates and Rest of the World contributing 6.1% and 3.1% of the total revenues in FY2021 respectively.

Shares of Zomato entered bourses on 23 July 2021. The scrip was listed at a price of Rs 115 apiece, at a premium of 51.32% to the issue price of Rs 76 per share. The initial public offer (IPO) of online food delivery platform Zomato received bids for 2,751.27 crore shares as against 71.92 crore shares on offer, according to stock exchange data. The issue was subscribed 38.25 times. The issue opened for bidding on Wednesday and closed on Friday. The price band of the IPO was fixed at Rs 72-76 per share.