ZOMATO INCREASES FOOD DELIVERY PLATFORM FEE AMID TOUGH TIMES

Food delivery partner

has hiked the platform fee it charges users from Rs 12.50 to Rs 14.90, an increase of Rs 2.40 per order. This price hike in platform fee is on a pan-India basis in all markets where the company operates. However, this increase in platform fees comes at a time when crude oil prices are rising due to the West Asia conflict, which is driving higher gas prices, and adding to the cost of food delivery operations. After seeing multibagger returns, the stock prices of have corrected by about 35% in the last 6 months going in line with a broader market correction. Hike in platform fees will benefit the company's profit growth in the coming quarters.