Zomato: Zomato's revenue soared, earning this much in a single month

Zomato: Online food delivery company Zomato reported a revenue of Rs 83 crore from platform fees in its annual report. The company said it received the amount in March after implementing platform fees on all orders since August last year. Now there is a platform fee of Rs 6 per order, which is considered a major contributor to Zomato's adjusted earnings. Zomato's revenue grew 27% to Rs 7,792 crore in FY2023-24. According to the earnings report, the increase in adjusted revenue as a percentage of total order value was attributed to higher restaurant commission rates, better ad monetization and the implementation of platform fees starting in the second quarter of last fiscal. The report also notes that the free delivery benefit for gold orders is offset by reduced customer delivery charges per order. Interestingly, Zomato's report revealed that most late-night orders came from Delhi NCR last fiscal, while Bengaluru saw the most breakfast orders. Also Read: Internships: Govt can get you internships, benefits like these In big cities, the company implemented a platform fee of Rs 2 per order in August last year in 6 major markets. Similarly, Zomato's rival Swiggy charges a platform fee per order. Nowadays Zomato is becoming very popular among common people and its sales are increasing day by day. Also Read: PAN Card: Easy way to download your e-PAN card online sitting at home: Zomato's earnings skyrocket, earns so much in a single month appeared first on Prabhat Khabar.