Ordering food from online food delivery company Zomato will now cost a little more. Because, the company has increased the platform charge by 25%. Now customers will have to pay platform charge of Rs 5 instead of Rs 4 on every order. Zomato caters to around 85-90 crore orders annually. The increase in platform fees by Rs 1 per order will lead to an increase in the company’s EBITDA by ₹85-₹90 crore annually. This will increase his total by 5%. Platform charge started from Rs 2 in August 2023. Zomato started charging platform charge of Rs 2 in August last year. Later it was increased to Rs 3 and from January 1, 2024, it was increased to Rs 4. The company had charged Rs 9 as platform fee from customers on December 31, 2023. Intercity food delivery service also suspended. Apart from this, the company has also suspended its intercity food delivery service ‘Intercity Legends’. Through this service, the company delivers orders from big restaurants in major cities to customers in other cities. Zomato’s share gave a return of 242.14% in one year. Zomato’s share is seeing 1.24%. The company’s shares have given returns of 2.16% in last 5 days, 9.99% in one month, 75.94% in 6 months and 242.14% in one year. The company has given a return of 53.90% to shareholders this year. The market capitalization of Zomato is Rs 1.66 lakh crore. The company’s net profit in Q3FY24 was ₹ 138 crore. Net profit for the third quarter (October-December) of Zomato Financial Year 2023-24 was ₹ 138 crore. The company had suffered a loss of ₹346.6 crore in the same quarter a year ago (Q3FY23). The company’s net profit on quarterly basis (QoQ) stood at 283%. The company had registered a profit of Rs 36 crore in the July-September quarter i.e. Q2FY24. Revenue increased by 69% to Rs 3,288 crore. The company’s consolidated revenue from operations in Q3 also increased by 69% year-on-year to Rs 3,288 crore. In the same period of the last financial year, the company had generated a revenue of Rs 1,948 crore. For the first time in 15 years, the company had made a profit of Rs 2 crore. A year ago, i.e. in the first quarter of the financial year 2023-24, the company had made a profit of Rs 2 crore. This was the first time since its establishment in 2008 that the company had recorded profit. Regarding this, a user jokingly wrote in an Read the full news here… Also read this news… Zomato gets ₹ 23.26 crore GST notice: Karnataka’s tax department makes demand, company’s market cap ₹ 1.58 lakh crore Online food delivery platform Zomato gets GST notice from Karnataka’s tax department A notice has been received from the officials regarding tax demand and penalty of Rs 23.26 crore. The company gave this information in its exchange filing on Sunday. However, the company said its case is strong on merits and it will file an appeal against the order before the appropriate authorities. Click here to read the full news…
