Hemal Jain, Zomato global head of finance and chief financial officer of its B2B grocery supply vertical, Hyperpure has resigned.
Hemal, who joined Zomato in 2018, announced her decision to step down to pursue new opportunities. Her departure is set for January 31, 2025.
Reasons for Resignation and Impact on Zomato
In her resignation letter, Hemal Jain expressed gratitude for the support she received during her tenure at Zomato.
She stated, “I have had the privilege of being part of the Zomato journey and its dynamic team over the past six years.”
Hemal added, “However, after much reflection, I have taken this tough decision to move on and explore a different path.”
Her resignation comes shortly after Zomato received an Rs 803 crore demand notice from the Goods and Services Tax (GST) authorities.
The company has stated that it intends to challenge the notice in court.
Hemal’s departure marks the second high-profile resignation from Zomato in recent months, following the resignation of co-founder and Chief People Officer Akriti Chopra in September 2024.
Despite these departures, Zomato’s shares ended 2% up at Rs 294.25 on the Bombay Stock Exchange (BSE) on the day of the announcement.
The company has not yet disclosed plans for Jain’s successor.
Hemal Jain’s Experience and Expertise
Hemal Jain has been a significant figure at Zomato, playing a crucial role in the company’s financial operations.
Before joining the company, she spent over a decade at Hindustan Unilever, where she held various finance roles.
She was part of Zomato’s senior management team that worked on the company’s Initial Public Offering (IPO) in July 2021.
Recent Developments at Zomato
Zomato has been making significant strides in its financial performance.
In Q2 FY25, the company reported a 68.5% year-on-year growth in operating revenue, reaching Rs 4,799 crore from Rs 2,848 crore in Q2 FY24.
Hyperpure’s revenue surged by 97% to Rs 1,473 crore during the same period.
Additionally, the company raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares.
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