New Delhi: Food delivery company Zomato has said during its third quarter financial earnings report that our valley has grown significantly. The company has also announced that it has stopped its operations in 225 small towns due to losses. In the food delivery business, the company incurred a loss of Rs 346.6 crore in the quarter that ended in December.

According to the report, company said in its third-quarter report, "The decline in demand was beyond expectation, which is impacting the food delivery profit. But even after this, we feel that we will be able to meet our profit target." Zomato is one of the most used food delivery apps in India and has recently re-launched its Gold subscription in an effort to boost profits. The company's decision to move out of 225 smaller cities comes at a time when it plans to hire around 800 people.

The company has reported in its financial earnings report that Zomato stopped operations in 225 small cities in January. Talking about this move, Zomato said, 'The performance of these cities was not good in the last few quarters, and we did not feel that our investment in these cities would work. However, it is not clear which cities are affected by the company's move. 

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