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The platform fee is a fixed charge applied to every order, separate from the delivery fee, and remains applicable to Zomato Gold members despite their benefits.
On Tuesday, April 16, the company's founder, Deepinder Goyal, revealed the news and discussed his plans for improving the client experience.
The company received the order and related communications on March 30, stating it relates to excess input tax credit availment, interest, and penalty.
The decision was made based on feedback from vegetarian customers. However, the move received both praise and criticism from users online.
The shares were acquired at an average price of ₹160 each, marking a 3.5% discount from the previous closing price.
This foray into the direct-to-consumer (D2C) space is viewed as a significant long-term growth driver for Zomato.
The rally follows the food aggregator's Q3FY24 net profit of ₹138 Crore, a significant turnaround from the ₹347 Crore net loss in the previous fiscal year
Recommendation: Buy; Target Price: ₹165
In the third quarter, operating revenue climbed by 69% year-on-year to ₹3,288 Crore.
The rupee settled 1 paisa higher at 82.95 after the RBI's monetary policy decision
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.