Zomato has increased its platform fee to Rs 10, up from Rs 7, as the festive season nears. A notification on the app explained that the fee helps cover the company’s bills and maintain services during the busy season.
Zomato first introduced a Rs 2 platform fee in August 2023 to improve its margins, gradually raising it over time. On December 31, it temporarily increased the fee to Rs 9. With the new hike, Zomato could earn an additional Rs 65 crore annually, based on its FY2023 order volume of 64.7 crore, according to a report by Moneycontrol.
On October 22, Zomato reported a small rise in Q2 profits, which were affected by its investment in expanding "dark stores" for Blinkit, its quick commerce service. The company added 152 new dark stores during the quarter, bringing the total to 791. However, the profit margins from Blinkit fell slightly to 3.8%.
Zomato’s consolidated revenue for Q2 surged by nearly 69% year-over-year, reaching approximately Rs 4,800 crore. To strengthen its finances after acquiring a ticketing business, the company plans to raise Rs 8,500 crore through a qualified institutional placement.
Zomato faces increasing competition in the food delivery market. Its main rival, Swiggy, offered shares worth $448 million in its initial public offering (IPO), and Zepto, another competitor, raised $340 million in August as it prepares to go public in 2025.
