Zomato’s food aggregator, who has withdrawn plugs in most of its international businesses, does not see global expansion as part of his future road map, according to the founder and chief executive officer of the Deepinder Goyal company.
Goyal said the company continued to estimate the “10x space for growth” in its business, but the focus would remain only on operations in India.
International business is no longer compatible with our road map. Not at all,” he said while talking to the CNBC TV18 on July 12.
Zomato has marked its release as a food delivery company from all international markets in November 2021, when deciding to withdraw from Lebanon.
The company, previously, pulled the shutters on its operations in the United States, Britain and Singapore. Meanwhile continues to remain in the United Arab Emirates (UAE), the operation is limited to food facility services and does not send food packages.
Goyal, during an exclusive conversation with CNBC TV18, also noted that he was “very bullish” about the long -term food shipping business. “We will be able to add 7 million users who transact years for the next 10 years,” he said.
Goyal claims appeared in the middle of speculation of the Zomato growth curve, with Covid-19 fears fading from restaurant customers and most restrictions related to Pandemic were revoked.
In the financial results released for the quarter ended April 30, 2022, the company reported a net loss of RS 359 Crore. Income during the same period rose to 1,211.8 Crore hospitals. The loss of EBITDA RS 449.7 Crore was also reported in Q4 FY22, compared to the loss of RS 153.5 Crore in the appropriate period last year.