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regular-article-logo Friday, 26 April 2024

Auditor of Zomato arm Zomato Hyperpure Pvt Ltd, BB & Associates quits

In a regulatory filing, Zomato said the statutory auditor of its material subsidiary resigned with effect from May 13, 2023

PTI New Delhi Published 14.05.23, 05:04 AM
Representational image

Representational image

Online food delivery platform Zomato on Saturday said the auditor of its subsidiary Zomato Hyperpure Pvt Ltd, BB & Associates has resigned.

In a regulatory filing, Zomato said the statutory auditor of its material subsidiary resigned with effect from May 13, 2023.

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In a letter to the board of Zomato Hyperpure Pvt Ltd, which was shared on stock exchanges, BB & Associates said its resignation was after various discussions with the management of holding company Zomato Ltd.

“We understand that they want to appoint one of the large audit firms as statutory auditors of the company.

“Accordingly, we have agreed to step down as statutory auditors of the company w.e.f. May 13, 2023,” the letter said.

BB & Associates was re-appointed as the statutory auditors of Zomato Hyperpure Pvt Ltd for a period of five years after shareholder’s resolution on July 14, 2021.

Zomato reported a widening of consolidated net loss at Rs 346.6 crore in the third quarter ended December 31, 2022 impacted by higher expenses and slowdown in food delivery business.

The company had posted a consolidated net loss of Rs 67.2 crore in the same quarter last fiscal.

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