Zomato's global head of finance Hemal Jain resigns; here’s why

Hemal Jain, Zomato’s global head of finance and CFO of its Hyperpure business, has resigned after six years with the company.

Her departure, announced by the company on Monday, is the second major exit from Zomato's senior management in recent months. Jain's last working day will be January 31, 2025, Zomato said in a stock exchange filing.

Jain's resignation comes shortly after the foodtech giant was served a demand notice of Rs 803 crore by the Goods and Services Tax (GST) department. Zomato, however, said that it would be filing an appeal against the order.

A pivotal role in Zomato's IPO and growth

Joining Zomato in 2018, Jain played a crucial role in the company’s financial operations, including its successful July 2021 IPO. Her contributions spanned multiple business functions, including financial planning, analysis, and procurement across Zomato and Blinkit, as highlighted on her LinkedIn profile. 

In her resignation letter, Jain expressed gratitude for her time at Zomato, saying: "I have had the privilege of being part of the Zomato journey and its dynamic team over the past six years. After much reflection, I have taken this tough decision to move on and explore a different path."

"I take this opportunity to thank everyone in Zomato for the support extended to me during my tenure. I wish Zomato the very best for continued success," she added.

Prior to joining Zomato, Jain spent over a decade at Hindustan Unilever.

Zomato's financial performance

Zomato reported a 68.5% year-on-year growth in operating revenue for Q2 FY25, reaching Rs 4,799 crore, up from Rs 2,848 crore in Q2 FY24.

Hyperpure, Zomato’s B2B grocery supply vertical, contributed significantly, with a 97% jump in revenue to Rs 1,473 crore. The company’s net profit also rose 4.8 times to Rs 176 crore.

Zomato has also managed to bolster its financial stability, raising Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares.