Oct 23, 2024 11:52 AM IST
Zomato has raised its platform fee to ₹10 from ₹7 ahead of the festive season to cover operational costs.
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 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.