Zomato hikes platform fee to 'maintain services during festive rush'

Zomato has raised its platform fee to ₹10 from ₹7 ahead of the festive season to cover operational costs.

Published on: Oct 23, 2024, 11:52:30 IST

By HT News Desk

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Food delivery platform Zomato increased platform fee to ₹10 from ₹7 ahead of the festive season. A notification on Zomato's app said, “This fee helps us pay our bills to keep Zomato running. To maintain services during festive season, it has increased slightly."

Zomato's platform fee rises to ₹10, up from ₹7, to support operations during the festive season. For Q2 2024, the firm reported a net profit of ₹176 crore, significantly higher than ₹36 crore in the previous year. (Reuters)

Zomato introduced a ₹2 platform fee in August 2023 and subsequently increased it to ₹3 before raising it again on January 1 to ₹4.

This comes as Zomato reported a consolidated net profit of ₹176 crore in the second quarter ended on September 30, 2024. The company posted a consolidated net profit of ₹36 crore in the same quarter last fiscal. In this quarter, consolidated revenue from operations stood at ₹4,799 crore which was at ₹2,848 crore in the year-ago period. Total expenses were at ₹4,783 crore in the quarter under review against ₹3,039 crore in the corresponding period a year ago, the company said.

The board of the company also approved the raising of ₹8,500 crore through qualified institutional placement of equity shares.

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