Zomato Hikes Platform Fee By 67% To Rs 10 Citing 'Festive Rush'
The food delivery giant Zomato Ltd. hiked its platform fee from Rs 6 per order to Rs 10 to keep it running amid festival season sales.
This hike comes three months after the Gurugram-based company increased its platform fee to Rs 6 from Rs 5 per order earlier. It was not clear if all cities it operates in has seen a hike in the platform fee.
The increased fee helps the platform pay its bills to keep it running, Zomato said in a notification to customers on Wednesday. "To maintain services during festive rush, it has increased slightly."
In the March-quarter shareholders' letter, Zomato also attributed the platform fee as one of the major reasons for an improvement in its margins.
(Notifications received by NDTV Profit)
Zomato's net profit fell in the second quarter of fiscal 2025 to miss analysts' estimates, even as the food delivery giant continued to expand its top line. Net profit was down 30% at Rs 176 crore in the July-September period. This compares to Rs 253 crore in the preceding quarter ended June 30.
Zomato's quick commerce arm, Blinkit, reported newly launched stores reaching around Rs 7 lakh in GOV per day during their first full quarter, achieving contribution break-even.
Zomato's gross order value rose 55% year-on-year to Rs 17,670 crore and 14% rise on a sequestial basis. Excluding the acquisition of Paytm's entertainment ticketing business, the company's GOV rose 53% on a yearly basis and 13% on a sequential basis.
Further, the delivery platform will plans to introduce a new district app within the next four weeks to enhance operational efficiency and customer engagement.
Zomato's stock rose as much as 2.95% during the day to Rs 263.9 apiece on the NSE. It was trading 2.34% higher at Rs 262.3 apiece, compared to a 0.40% advance in the benchmark Nifty 50 as of 11:29 a.m.
The stock has risen 140% during the last 12 months and has advanced 112% on a year-to-date basis. The total traded volume so far in the day stood at 3.9 times its 30-day average. The relative strength index was at 44.
Twenty-four of the 27 analysts tracking the company have a 'buy' rating on the stock, and three have a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 13%.
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