Auditor Of Zomato Subsidiaries’ Resigns; Deloitte To Step In

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SUMMARY

The reason for resignation is to allow for appointment of the current statutory auditor of the company, Deloitte to make the audit process more efficient

Batliboi & Associates were appointed as the statutory auditor for a term of five consecutive years

The holding company’s management wants to align the statutory auditor of the company with the auditors of the holding company: Batliboi & Associates

zomato has announced that the auditor of its subsidiaries Zomato Hyperpure and Blink Commerce has resigned with immediate effect, making room for the food tech platform to appoint Deloitte Haskins & Sells as its new auditor to streamline the audit process.

“The reason for resignation is to allow for appointment of the current statutory auditor of the Company, M/s Deloitte Haskins & Sells LLP, as the statutory auditor of ZHPL and BCPL as well, in order to make the audit process more efficient,” Zomato said.

Batliboi & Associates were appointed as the statutory auditor for a term of five consecutive years, from the conclusion of the eighth annual general meeting of the company held on August 29, 2023.

“Further to our various discussions and email dated May 08, 2024 fro111 the Global Controller Finance, Zomato Limited, we understand that the Holding Company’s Management wants to align the statutory auditor of the Company with the auditors of the Holding Company. responsible for audit of consol accounts to avoid some duplication and bring some efficiencies in the audit process at group level,” it said.

The company has completed the audit of the financial statements of Hyperpure for the year ended March 31, 2024 through an audit report dated May 10, 2024.

Meanwhile, Zomato’s board is scheduled to meet today to review and approve the results for the fourth quarter and the financial year ending March 2024.

Zomato reported a consolidated profit after tax (PAT) of INR 138 Cr in the December quarter (Q3) of the financial year 2023-24 (FY24). The company’s operating revenue jumped to INR 3,288 Cr in Q3 FY24 from INR 2,848 Cr in Q2 FY24.

Recently, Zomato hiked its platform fee by 25% to INR 5 per order and also suspended its intercity delivery service Intercity Legends. Zomato increased the platform fee across its key markets, including the National Capital Region, Bengaluru, Mumbai, Hyderabad and Lucknow.





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Auditor Of Zomato Subsidiaries’ Resigns; Deloitte To Step In


SUMMARY

The reason for resignation is to allow for appointment of the current statutory auditor of the company, Deloitte to make the audit process more efficient

Batliboi & Associates were appointed as the statutory auditor for a term of five consecutive years

The holding company’s management wants to align the statutory auditor of the company with the auditors of the holding company: Batliboi & Associates

zomato has announced that the auditor of its subsidiaries Zomato Hyperpure and Blink Commerce has resigned with immediate effect, making room for the food tech platform to appoint Deloitte Haskins & Sells as its new auditor to streamline the audit process.

“The reason for resignation is to allow for appointment of the current statutory auditor of the Company, M/s Deloitte Haskins & Sells LLP, as the statutory auditor of ZHPL and BCPL as well, in order to make the audit process more efficient,” Zomato said.

Batliboi & Associates were appointed as the statutory auditor for a term of five consecutive years, from the conclusion of the eighth annual general meeting of the company held on August 29, 2023.

“Further to our various discussions and email dated May 08, 2024 fro111 the Global Controller Finance, Zomato Limited, we understand that the Holding Company’s Management wants to align the statutory auditor of the Company with the auditors of the Holding Company. responsible for audit of consol accounts to avoid some duplication and bring some efficiencies in the audit process at group level,” it said.

The company has completed the audit of the financial statements of Hyperpure for the year ended March 31, 2024 through an audit report dated May 10, 2024.

Meanwhile, Zomato’s board is scheduled to meet today to review and approve the results for the fourth quarter and the financial year ending March 2024.

Zomato reported a consolidated profit after tax (PAT) of INR 138 Cr in the December quarter (Q3) of the financial year 2023-24 (FY24). The company’s operating revenue jumped to INR 3,288 Cr in Q3 FY24 from INR 2,848 Cr in Q2 FY24.

Recently, Zomato hiked its platform fee by 25% to INR 5 per order and also suspended its intercity delivery service Intercity Legends. Zomato increased the platform fee across its key markets, including the National Capital Region, Bengaluru, Mumbai, Hyderabad and Lucknow.





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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