The stock jumps 8 per cent amid positive management commentary; Blinkit surpasses Zomato in revenue as quick commerce leads growth
Despite the company reporting a sharp 90 per cent year-on-year decline in net profit for the April–June quarter of the current financial year (FY26), shares of Eternal, formerly known as Zomato, surged to a fresh record high on Tuesday.
Despite the profit slump, investor sentiment remained buoyant following the firm’s earnings report and upbeat management commentary. At 11:40 am, shares were trading 8 per cent higher at Rs 295 on the National Stock Exchange (NSE), after hitting an intraday high of Rs 311.25 earlier in the session.
Eternal reported a net profit of Rs 25 crore in Q1FY26, sharply down from Rs 253 crore a year ago. However, its consolidated revenue jumped 70 per cent year-on-year to Rs 7,167 crore.
One of the key highlights of the quarter was Blinkit’s performance, which overtook Zomato’s core food delivery business in terms of revenue. Blinkit reported Rs 2,400 crore in revenue, compared to Zomato’s Rs 2,261 crore. The company’s consolidated Ebitda stood at Rs 115 crore, down 35 per cent year-on-year.
Positive commentary from the management in the previous session helped drive the stock to five-month highs. Eternal’s CFO Akshant Goyal said that for the first time, Blinkit’s net order value (NOV) surpassed that of Zomato, marking a significant shift in consumer demand. “Our B2C operations have now reached nearly USD 10 billion in annualised NOV, with quick commerce accounting for nearly half of it,” Goyal said.
