Bad news for Deepinder Goyal as Zomato’s parent Eternal's net profit falls to Rs...

Deepinder Goyal has suffered a big blow as his food delivery and quick commerce firm Eternal (formerly Zomato) reported a massive 90 per cent 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). It was down from Rs 253 crore in the same period a year ago.

Eternal's revenue

During the April-June quarter, Eternal's revenue from operations stood at Rs 7,167 crore, up from Rs 4,206 crore a year ago, according to a regulatory filing. However, the company's total expenses also jumped to Rs 7,433 crore, from Rs 4,203 crore in the corresponding period of last fiscal.

Eternal business
 
The reporting segments for the group include India food ordering and delivery; hyperpure supplies (B2B business); quick commerce; going out; and all other segments (residual). "During the quarter ended June 30, 2025, the Group has initiated transition from its marketplace model to a combination of marketplace and inventory-led model in its quick commerce segment."

Eternal shares

The company shares closed at Rs 276.50 on Monday, July 21, with a 7.50 per cent gain. Its market cap currently stands at Rs 2.46 lakh crore. Eternal, which owns the Zomato and Blinkit brands, rebranded itself as Eternal in March this year.

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Revenue under quick commerce segment 

"Owing to this change, the revenue under quick commerce segment will increase on account of direct sales to customers on the Blinkit platform and revenue in Hyperpure supplies (B2B business) will reduce as the non-restaurant B2B buyers were sellers on the Blinkit platform," Eternal stated in the filing.

(With inputs from PTI)