Eternal Ltd. owned food delivery platform Zomato has hiked platform fee by 19%, as per calculations by NDTV Profit on Friday. The increase translates into an additional Rs 2 for food deliveries.
In September last year, Zomato had raised its platform fee to Rs 12 from Rs 10, anticipating a festive demand boom during the Diwali period. However, the hike had been exclusive of the Goods and Services tax or GST.
The move had come after Swiggy had pushed up its platform fee to Rs 14 (inclusive of GST) in select pin codes amid rising order volumes.
Both platforms had introduced this fee as a per order charge in 2023, and have ever since slowly increased the prices.
ALSO READ: Eternal Q3 Results: Net Profit Misses Estimates, Quick Commerce Turns Adjusted Ebitda Profitable
Eternal Q3FY26
Zomato-parent Eternal's net profit nearly doubled in the third quarter of the current financial year, even as it missed street expectations. Margin improvement came from supply chain cost efficiencies, a favourable shift towards long tail categories and operating leverage, the company said.
Consolidated net profit jumped to Rs 102 crore in the October-December period, compared to Rs 59 crore in the corresponding quarter last year, according to a stock exchange filing. Analysts' consensus estimates compiled by Bloomberg projected Rs 115 crore.
Food delivery's net order value jumped 16.6% year-on-year, a second consecutive quarter of NOV growth acceleration. On the margin front, adjusted Ebitda margin (as a % of NOV) reached an all-time high of 5.4% and the business delivered an absolute adjusted operating income of Rs 531 crore for the quarter
The quick commerce and hyperpure business turned adjusted Ebitda profitable in Q3 with Rs 4 crore, improving significantly from a loss of Rs 156 crore in the previous quarter.
Eternal Share Price
Eternal's stock went as high as 3.48% to Rs 236.7 after the hike, later it pared gains to settle 1.86% higher at Rs 233 on the NSE. This compared to a 0.49% advance in the Nifty idex. The stock has fallen 16.46% year-to-date but risen 3.48% in the last 12 months.
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