Eternal Ltd., the parent company of leading food delivery platform Zomato, posted a over fourfold jump in consolidated net profit in the March quarter of fiscal 2025-26. The share price of the Deepinder Goyal-led company that were trading lower soared over 1% with the announcement of Q4 results.
The bottomline came in at Rs 174 crore, compared to Rs 39 crore in the March quarter, according to a stock exchange filing on Tuesday. Analysts' consensus estimates compiled by Bloomberg projected Rs 126 crore.
Eternal Q4 Highlights (Consolidated, YoY)
- Revenue up 196.5% to Rs 17,292 crore versus Rs 5,833 crore (Estimate: Rs 18,099 crore)
- Ebitda up 575% to Rs 486 crore versus Rs 72 crore (Estimate: Rs 431 crore)
- Margin at 2.8% versus 1.2% (Estimate: 2.4%)
- Net profit up 346% to Rs 174 crore versus Rs 39 crore (Estimate: Rs 126 crore)
Eternal Q4 Results: Segment Fine-Print
Eternal reported a steady operational performance in fourth quarter, with strong growth in quick commerce and food delivery businesses, alongside improving profitability metrics across segments. The company's cash balance rose to Rs 17,972 crore at the end of the quarter, compared to Rs 17,820 crore in third quarter, reflecting a stable liquidity position.
Eternal noted that localised disruptions, whether due to LPG shortages, adverse weather, or other supply constraints, had no meaningful platform-level impact. Instead, demand typically gets redistributed across its ecosystem, supported by a wide network of restaurant partners across cuisines, price points and geographies.
The company's quick commerce segment, led by Blinkit, emerged as the standout performer, with NOV (net order value) surging 95.4% year-on-year and expanding 8.2% sequentially. On a broader basis, the segment scaled 7.7x, driven by aggressive store expansion and rising demand density. Blinkit added 216 net new stores during the quarter, taking its total store count to 2,243. Profitability also improved sharply, with Adjusted Ebitda rising to Rs 37 crore from Rs 4 crore in the previous quarter.
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The core food delivery business, operated under Zomato, continued its steady growth trajectory. NOV grew 18.8% year-on-year, marking the third consecutive quarter of improvement and inching closer to the company's long-term target of over 20% growth. Gross order value (GOV) increased 22.5% year-on-year. Margins also strengthened, with Adjusted Ebitda margin improving to 5.5% of NOV, translating into Rs 532 crore of Ebitda, up 24% year-on-year.
Eternal's going-out segment, District, saw a sharp rebound, with NOV growth accelerating to 46.5% year-on-year compared to 20% in the previous quarter. Losses narrowed significantly, with Adjusted Ebitda loss reducing to Rs 81 crore from Rs 121 crore in third quarter, and margins improving to -3.0%.
Meanwhile, Hyperpure continued to scale, with revenue growth improving to 37% year-on-year. The segment turned marginally profitable, reporting Adjusted Ebitda of Rs 5 crore, up from Rs 1 crore in the previous quarter, with margins at 0.5%.
Outlook
Looking ahead, Eternal remains optimistic about growth momentum, particularly in quick commerce. The company expects first quarter of this fiscal to be significantly stronger on a sequential basis, driven by assortment expansion, geographic reach and improving demand density. Blinkit's NOV is projected to grow at a 60% CAGR over the next three years.
Management reiterated confidence in achieving 5–6% margins over time and outlined a long-term target of reaching $1 billion in Adjusted Ebitda by fiscal year 2029. Notably, after taking 18 years to achieve $10 billion in annual NOV, the company expects to double this to $20 billion in under two years, signalling accelerating scale and execution strength.
Zomato Share Price Today
Eternal shares closed 0.95% lower at Rs 253.07 apiece on Tuesday. This compares to a 0.40% decline in the NSE Nifty 50 Index. During the day, the stock rose as much as 1.96% to Rs 260.50 per share.
It has risen 11.38% in the last 12 months and fallen 8.98% year-to-date.
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