Zomato platform fee hike: Zomato has increased the platform fee by 20%. Customers will now have to pay more on every food order. Its effect can be seen on the company’s shares. Know the details
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Zomato platform fee hike: Now ordering food from Zomato will be a bit expensive. Food delivery and quick commerce company Eternal Ltd on Tuesday (September 2) increased the platform fee on food delivery orders by 20%. Now customers will have to pay a platform fee of ₹ 12 instead of ₹ 10 for ordering food from Zomato. Zomato last increased the platform fee exactly 1 year ago.
Zomato, owned by Deepinder Goyal, started the platform fee in August 2023 at ₹ 2. It was introduced as a step towards improving margins and increasing profits. After this, the platform fee was increased several times. It was increased to ₹ 3 in 2023, ₹ 4 on January 1, 2024, and ₹ 10 for the festive season in October 2024.
Eternal’s first quarter results
Eternal Ltd reported a profit of ₹25 crore in the June quarter. This is less than ₹253 crore in the same period last year. The company said that this difference is mainly due to ongoing investments in Quick Commerce and Outgoing Business.
During this period, Eternal’s operational revenue stood at ₹7,167 crore, up from ₹4,206 crore last year. The company said that for the first time, the net order value (NOV) of Quick Commerce was higher than the food delivery NOV in the entire quarter.
Eternal’s shares status
On Tuesday, Eternal Ltd shares closed at ₹322.85 with a marginal gain of 0.55% on the BSE. The stock has gone up 5.77% in the last 1 month. At the same time, it has gained 45.34% in the last 6 months. The stock has gone up 30.34% in 1 year.
What is Eternal’s business?
Eternal Ltd is a food delivery and quick commerce company that runs Zomato and Blinkit. The company delivers food, groceries and essential items from restaurants to customers quickly. Apart from this, it also works in events and outgoing business.
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