Food aggregator Zomato, which has pulled the plug on most of its international businesses, does not see global expansion as part of its future roadmap, according to the company's founder and chief executive officer Deepinder Goyal.
Goyal said the company continues to foresee a "10x room for growth" in its business, but the focus will remain only on the operations in India.
"International business does not fit into our roadmap anymore. Not at all," he said while speaking to CNBC TV18 on July 12.
Zomato had marked its exit as a food delivery company from all international markets in November 2021, when it decided to pull out from Lebanon.
The company had, earlier, pulled down the shutters on its operations in the United States, the United Kingdom, and Singapore. While it continued to remain in the United Arab Emirates (UAE), the operation was restricted to dining-out facility service and not delivering food parcels.
Goyal, during the exclusive conversation with CNBC TV18, also noted that he is "very bullish" about the food delivery business over the long term. "We will be able to add 7 million transacting users year over the next 10 years," he said.
Goyal's claim comes amid speculations over Zomato's growth curve plateauing, with COVID-19 fears fading away from restaurant customers and most of the pandemic-related restrictions being lifted.
In the financial results released for the quarter ending April 30, 2022, the company reported a net loss of Rs 359 crore. The revenue during the same period climbed to Rs 1,211.8 crore. An EBITDA loss of Rs 449.7 crore was also reported in Q4 FY22, as compared to a loss of Rs 153.5 crore in the corresponding period last year.
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