Zomato cuts losses by 34% to ₹389 crore for 2016-17
Food discovery and delivery platform Zomato has narrowed down its losses by 34% to ₹389 crore for the financial year 2016-17, from ₹590.1 crore in the year-ago period. Zomato reported revenues of ₹332.3 crore for 2016-17, up 80.6% from ₹183.9 crore in the previous year. Zomato had earlier said that its cash burn dropped 81% to ₹77.5 crore in 2016-17.