In the latest development regarding the platform fee hike, the food delivery giant Zomato issued a clarification on Thursday (October 24) after the stock exchange sought clarification on the matter.
The company, today, in the response to it said, “At the outset, we would like to state that this is not a rumor, as the source of information mentioned in the article is the Zomato mobile application itself which is public and available for everyone to see and check. We have indeed increased the platform fee yesterday across certain cities. Such changes in our platform fee are a routine business matter and are done from time to time and may vary from city to city.”
BSE filing
Zomato’s platform fee hike
As the festive season approaches, Zomato, has made a hike in its platform fee from Rs 7 to Rs 10 per order.
The company shared this update on Wednesday (October 23) through a message on its app, stating that this small increase is necessary to help cover costs during the busy holiday time.
The message read, “This fee helps us pay our bills to keep Zomato running. To maintain services during the festive season, it has increased slightly.”
Screengrab of the festive season platform fee
The company has raised the fee multiple times, starting with a platform fee of Rs 2 per order in August 2023 at the initial phase.
Furthermore, the company made this hike a day after it announced the financial results for the quarter ending September 30, 2024.
Apart of this, the food delivery giant’s rival, Swiggy has also increased the platform fee to Rs 10 ahead of this festive season.
Zomato share performance
The shares of Zomato on Thursday at 2:31 pm IST were trading at Rs 255.10 apiece, down by 3.39 per cent, following the hike by the platform.
share performance
The shares of the company today opened at Rs 267.20 and took to a low note of Rs 254.15 apiece during the intraday trading session
Netizens Reaction to the Hike
Netizens Reaction to the Hike
@zomato In festival season you guys increased platform fees to 10₹, this is not acceptable #Zomato
— Roshan Rathod (@rathod_ros38221) October 24, 2024
Restaurant charges
Delivery fees
GST
and chukpe se “platform fees” increased to now Rs 10.
Seems Zomato and Swiggy are learning fast from our “not-so-dear” FM. #zomato #swiggy #fooddelivery #platformfees #loot
— CJ (@chiragjuneja_) October 24, 2024
