Zomato, the foodtech giant, has stated that the auditors for its subsidiaries Zomato Hyperpure and Blink Commerce have resigned with immediate effect, allowing the platform to select Deloitte Haskins & Sells as the new auditor.
Zomato stated, “The resignation aims to facilitate the appointment of our current statutory auditor, M/s Deloitte Haskins & Sells LLP, as the statutory auditor of ZHPL and BCPL as well, aiming to enhance the efficiency of the audit process.”
Batliboi & Associates were designated as the statutory auditor for a continuous period of five years starting from the end of the company’s eighth annual general meeting, which took place on August 29, 2023.
“In continuation of our prior discussions and correspondence dated May 08, 2024, from the Global Controller Finance of Zomato Limited, we have been informed that the Management of the Holding Company aims to synchronize the statutory auditor of the Company with the auditors of the Holding Company. This alignment is intended to minimize duplication and enhance efficiency in the audit process at the group level,” the statement conveyed.
Continue Exploring: Zomato receives approval to liquidate Indonesian subsidiary
The company has concluded the audit of Hyperpure’s financial statements for the year ending March 31, 2024, with an audit report dated May 10, 2024.
In the meantime, the board of Zomato is set to convene today to assess and authorize the results for both the fourth quarter and the fiscal year ending in March 2024.
In the December quarter (Q3) of the financial year 2023-24 (FY24), Zomato reported a consolidated profit after tax (PAT) of INR 138 Cr. The company witnessed a surge in operating revenue to INR 3,288 Cr in Q3 FY24 from INR 2,848 Cr in Q2 FY24.
Zomato recently raised its platform fee by 25% to INR 5 per order and temporarily halted its intercity delivery service, Intercity Legends. This increase in platform fee was implemented across its major markets, including the National Capital Region, Bengaluru, Mumbai, Hyderabad, and Lucknow.
Continue Exploring: Zomato raises platform fee to INR 5, temporarily halts intercity delivery service
