Zomato resignation: Another high-profile exit within fortnight

Zomato Delivery App: Another high-profile resignation has jolted the online food delivery platform Zomato. The company has informed in a regulatory filing that Rahul Ganjoo, new initiatives head and former food delivery chief, has resigned from the company. Ganjoo has been with the company for five years. 

"We wish to inform you that Mr. Rahul Ganjoo, Head of New Initiatives at the Company has tendered his resignation today," the company said in the exchange filing.  

"Mr. Rahul Ganjoo was not designated as key managerial personnel under the Companies Act, 2013 and the Listing Regulations. Hence, this disclosure will not qualify as ‘material information’ and the Company is making this disclosure voluntarily," it added.

This is the second such high-profile exit from the company within a fortnight as  Zomato’s vice president of global growth, Siddharth Jhawar left the organisation on November 7. 

Meanwhile, Zomato has also announced that it will discontinue its delivery services in the UAE from November 24. According to the exchange filing, customers looking to order food through the Zomato app in UAE will be redirected to talabat app.

"We would further like to inform the exchange that this discontinuation will not have any material impact on the financials and operations of the Company. The Company will continue to offer restaurant discovery and dining-out services in the UAE," the company said.

Meanwhile, the online food delivery platform reported narrowing of its consolidated net loss to Rs 250.8 crore for the second quarter ended September 2022.

The company's consolidated net loss stood at Rs 434.9 crore in the year-ago period. Revenue from operations increased to Rs 1,661.3 crore during the July-September quarter, as against Rs 1,024.2 crore in the corresponding period of the previous financial year, it said in a regulatory filing.

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