Zomato hikes platform fee to Rs 10 ahead of Diwali festivities

Zomato platform fees: The food delivery giant Zomato announced on Wednesday that customers will have to pay Rs 3 extra for each order as the company has decided to increase its platform fee to Rs 10. 

“This fee helps us pay our bills to keep Zomato running. To maintain services during the festive season, it has increased slightly,” a notification on the Zomato app informed customers.

Deepinder Goyal-led platform introduced the concept of platform fee in August 2023, charging Rs 2 extra on each order. This fee was later increased to Rs 7 step-by-step. 

On Tuesday, the company reported a net profit of Rs 176 crore in the second quarter of the current financial year, marking an increase of nearly five times or 389 per cent from Rs 36 crore during the same period last year. 

On a sequential basis, its net profit however fell 30 per cent from Rs 253 crore. The results, however, fell short of expectation as analysts polled by LSEG were expecting it to report a net profit of Rs 270 crore.

The company’s board also approved raising up to Rs 8,500 crore via the issue of shares in a qualified institutional placement.

The company's revenue rose nearly 69 per cent to Rs 4,799 crore, slightly ahead of analysts' estimates of Rs 4,730 crore, per data complied by LSEG.