SUMMARY
- Zomato increases platform fee to INR 10 amid the festive season.
- The hike aims to cover operational costs and ensure uninterrupted services.
- Zomato’s Q2 FY25 net profit fell by 30%, prompting approval for raising INR 8,500 crore through QIP.
Zomato has hiked its platform fee to INR 10, a 67% increase, as demand surges during the festive season. The fee hike, intended to offset operational costs, comes after an earlier increase from INR 5 to INR 6 per order. The new platform fee is expected to impact millions of customers across India.
- The latest hike comes just months after Zomato introduced the platform fee in August 2023 at INR 2.
- The temporary festive increase is aimed at ensuring smooth operations during the busy season.
- Zomato’s net profit fell 30% in the July-September quarter, with the company reporting a decline to INR 176 crore, compared to INR 253 crore in Q1 FY25.
- The company has also received board approval to raise INR 8,500 crore via a Qualified Institutional Placement (QIP).
The festive fee hike is part of Zomato’s strategy to maintain profitability and support operational efficiency during peak periods. Alongside this move, the company’s financial results for the recent quarter reflect a challenging period, marked by a significant drop in net profit.
