Eternal Ltd (formerly Zomato), which operates food delivery platform Zomato and quick commerce firm Blinkit, on July 21 reported a massive 90 percent year-on-year (YoY) decline in quarterly profit after tax (PAT) at Rs 25 crore in the first quarter (Q1) of financial year 2025-26 (FY26), down from Rs 253 crore in the same period a year ago.
However, the firm's shares on NSE rose as much as 7.5 percent due to a surge in orders at Eternal's quick commerce arm Blinkit. Eternal stock climbed as much as 7.5 percent to Rs 277 after the results, their highest level since February 3.
The company, which re-branded itself from Zomato to Eternal in March, had reported a net profit of Rs 253 crore in the year-ago period.
Zomato’s revenue from operations rose 70.4 percent YoY to Rs 7,167 crore in Q1, up from Rs 4,206 crore a year ago. It had reported a revenue of Rs 5,833 crore in the previous quarter.
Total expenses for the Gurugram-based firm increased to Rs 7,433 crore in the quarter ended June, up from Rs 4,203 crore a year ago and Rs 6,104 crore a quarter ago.
Zomato ended the quarter with a cash balance of Rs 18,857 crore, relatively unchanged from Rs 18,824 crore in the previous quarter.
Food delivery
Adjusted revenue for its food delivery business increased 17.7 percent YoY to Rs 2,657 crore in the June quarter, up from Rs 2,256 crore in the year ago period. On a sequential basis, revenue increased 10 percent from Rs 2,409 crore a quarter ago, amid an ongoing slowdown in demand for food delivery.
The gross order value (GOV) for this business increased 10 percent from Rs 9,778 crore in Q4FY25 to Rs 10,769 crore in the June quarter. On a yearly basis, GOV increased from Rs 9,264 crore in Q1FY25.
The average monthly transacting customers (MTCs) for Zomato's food delivery vertical increased to 22.9 million from 20.9 million a quarter ago. The platform had 20.3 million MTCs in the year-ago period.
Blinkit
Zomato’s quick commerce arm Blinkit reported a (EBITDA) loss of Rs 162 crore in Q1FY26, up from a loss of Rs 3 crore incurred during the same period last year, on account of the company’s rapid dark store expansion.
On a sequential basis, however, the adjusted EBITDA loss was lower than Rs 178 crore recorded in Q4FY25.
Blinkit's revenue increased 155 percent YoY to Rs 2,400 crore, up from Rs 942 crore in Q1 FY25. It reported a revenue of Rs 1,709 crore in the previous quarter. Meanwhile, its GOV for the quarter increased to Rs 11,821 crore in the June quarter, compared to Rs 4,923 crore in Q1 FY25 and Rs 9,421 crore in the previous quarter.
Blinkit’s average order value (AOV) stayed relatively flat sequentially at Rs 669 in Q1, from Rs 665 in the previous quarter and Rs 625 in the year-ago period.
Its dark store count increased YoY from 639 last year to 1,544 in Q1 FY26, and average monthly transacting users reached 16.9 million this quarter from 7.6 million in Q1 FY25.
Going out
Revenue for Zomato’s Going Out business declined almost 10 percent YoY to Rs 207 crore in Q1, compared to Rs 95 crore in Q1 FY25, and Rs 229 crore in Q4 FY25.
GOV for the business, on the other hand, increased to Rs 2,370 crore in Q4, from Rs 2,184 crore a quarter ago. The company reported a revenue of Rs 1,268 crore a year ago.
Hyperpure
Zomato’s business-to-business (B2B) supplies vertical, Hyperpure, saw its revenue rise 89 percent YoY to Rs 2,295 crore in Q4, compared to Rs 1,212 crore in the same period last year. The company reported a revenue of Rs 1,840 crore a quarter ago.
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