The platform fee was among the three key factors driving Zomato’s Adjusted revenue. The other two are revenue from operations and customer delivery charges
Notably, Zomato’s adjusted revenue for the financial year 2023-24 (FY24) grew to Rs 13,545 Cr from INR 8,693 Cr in the previous fiscal year, representing 55.8% growth for the given period
It is pertinent to note that Zomato has increased its platform fee thrice this year from INR 2 per order to INR 6.
Foodtech platform Zomato, which began charging platform fee on orders from last August, has collected INR 83 Cr through the new levy till March, as per the company’s annual report.
This comes on the sidelines of Zomato
collecting a platform fee amounting to INR 53 Cr just for the financial quarter ending June (Q1) of the financial year 2024-25 (FY25).
Of the INR 83 Cr platform fee earned in FY24, the quarterly figures around platform fee charged for Q2FY24, Q3FY24 and Q4FY24 were INR 13 Cr, INR 37 Cr and INR 33 Cr, respectively.
The sequential increase in platform fees comes on the back of Zomato increasing its platform fee thrice this year from INR 2 per order to INR 6.
It first increased the charges to INR 4 per order across key markets on New Year. Then, it hiked the same by 25% to INR 5 per order across its key markets in April. This was followed by increasing it to INR 6 last month.
Both the April and June increments form a part of the exorbitant rise in platform fee collection for Q1 FY25 at INR 53 Cr. This marks a sequential 60.6% increment from INR 33 Cr collected in Q4 FY24.
However, Zomato has been witnessing a stagnant average monthly transacting customers matrix on a sequential basis for quite some time now. For instance, the average monthly transacting customers for Q1 FY24, Q2 FY24, Q3 FY24, Q4Fy24 and Q1 Fy25 were at 17.5 Mn, 18.4 Mn, 18.8 Mn, 19 Mn and 20.3 Mn, respectively.
For the financial year of 2023-24, the platform fee was among the three key factors driving Zomato’s adjusted revenue. The other two are revenue from operations and customer delivery charges.
Notably, Zomato’s adjusted revenue for the financial year 2023-24 (FY24) grew to INR 13,545 Cr from INR 8,693 Cr in the previous fiscal year, representing 55.8% growth for the given period.
Zomato introduced its platform fee of INR 2 per order in August last year. Not to mention, its counterpart Swiggy also levied a standardised 2% collection fee on all orders effective from December 20.
The development comes on the sidelines of Zomato’s continued profitability in consolidated financials for the quarter ending June of the financial year 2024-25, after it posted its maiden profitable quarter in Q1 FY24.
Its consolidated net profit zoomed multifold year-on-year (YoY) to INR 253 Cr in Q1 of FY25 with Blinkit continuing to lead the show. Zomato’s revenue from operations jumped 74% to INR 4,206 Cr in Q1 FY25 from INR 2,416 Cr in the corresponding quarter last year. Operating revenue rose 18% from INR 3,562 Cr in Q4 FY24.
