Zomato Food Orders Will Cost More: Hikes Platform Fee By 25%
By: Geetanjali
Online food delivery platform Zomato has increased its platform usage charge for customers by 25% to Rs.5 per order from Saturday, April 20, 2024. Platform charge is a mandatory charge along with the delivery charges that cannot be skipped by customers while ordering from the food delivery platform making food orders a bit costlier than previously.
Platform fee is mandatory to every customer including Zomato’s Gold Loyalty Programme customers. Gold membership allows customers to avoid delivery charges however they will still have to pay platform fees.
Zomato started charging platform charges from its users in August 2023 with initial platform fee at Rs.2 per order, which has significantly raised Zomatos profit margins, later this fee was hiked to Rs.3 per order. Afterwards, in January, 2024 this mandatory platform fee was raised to Rs.4 per order across major cities.
As per a report by Economics Times, the hike in the platform fee is seen in major cities of India like, NCT (National Capital Territory), Mumbai, Bengaluru, Mumbai, Lucknow and Hyderabad.
On the other hand Zomato’s quick delivery e-commerce platform Blinkit lays a handling charge of Rs.2 per order.
Company’s profit margins have surged significantly since the food delivery company started its platform fee in August 2023. Company’s profit for the Q3 (October- December) in the FY2024 was around Rs.138 Cr, while profit for the Q2 was around Rs.36 Crore. Company sustained a loss of Rs.347 Crore in the financial year 2023.
FAQs (Frequently Asked Questions)
1) Who is the CEO of Zomato?
Ans: Deepinder Goyal is the CEO, MD and Founder of the food delivery company Zomato.
2) Net Worth of Deepinder Goyal?
Ans: Deepinder Goyal has a reported net worth of Rs.2570 Crore.
3) What’s the share price of Zomato?
Ans: As of Monday, April 22, 2024, Zomato’s per share price is Rs.193.40/ share.
