Eternal Q2 Results: Profit soars 92% YoY to Rs 125 crore; revenue zooms 78%

Eternal, the parent company of Zomato and Blinkit, reported a 92.3% year-on-year (YoY) jump in net profit to Rs 125 crore in the second quarter of FY27 (Q2FY27), compared with Rs 65 crore in the corresponding quarter of the previous fiscal year.

The company's revenue from operations rose 77.6% YoY to Rs 24,138 crore in the quarter under review, from Rs 13,590 crore reported in Q2FY26.

On the expenses front, Eternal's total expenses rose 75% year-on-year (YoY) to Rs 24,166 crore in Q2FY27, compared with Rs 13,813 crore reported in the corresponding quarter last fiscal.


On a sequential basis, net profit jumped 36% quarter-on-quarter (QoQ) from Rs 92 crore reported in Q1FY27, while revenue from operations increased 19.4% from Rs 20,211 crore in the previous quarter.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 26.6% QoQ to Rs 752 crore in Q2FY27, compared with Rs 594 crore in Q1FY27. EBITDA margin expanded to 3.15% from 2.95% in the preceding quarter.

Eternal shares ended Wednesday's trading session at Rs 311.75 apiece on the BSE, down 2.71% from the previous close of Rs 320.45.

The company said it plans to expand Blinkit's store network to 5,000 outlets by March 2028, secure a 4.4% stake in the merged Mygate entity and launch Dark.AI globally by the end of 2026.

From the segment-wise performance, Food delivery (Zomato)'s net order value (NOV) grew 21.5% year-on-year (YoY) to Rs 11,445 crore, with growth acceleration continuing for the fifth consecutive quarter. Adjusted EBITDA margin declined marginally to 5.5% of NOV, resulting in an adjusted EBITDA of Rs 627 crore, up 25% YoY.

Quick commerce (Blinkit)'s NOV surged 79.3% YoY to Rs 20,940 crore, with quarter-on-quarter (QoQ) growth of 22.2%. The company added 308 net new stores during the quarter, taking its total store count to 2,751. Adjusted EBITDA margin improved for the sixth consecutive quarter to 0.9% of NOV, resulting in an adjusted EBITDA profit of Rs 184 crore, compared with a loss of Rs 156 crore in the year-ago period.

Going-out (District)'s NOV rose 58% YoY and 1.3% QoQ to Rs 3,259 crore. Adjusted EBITDA margin improved to -2% of NOV from -3.1% in the year-ago period. On a sequential basis, the adjusted EBITDA loss remained broadly flat at Rs 64 crore.

Hyperpure's revenue grew 22.7% on a like-for-like (LFL) basis to Rs 1,154 crore. Adjusted EBITDA margin improved to 0.9% from -0.5% in the year-ago period, resulting in an adjusted EBITDA profit of Rs 10 crore, compared with a loss of Rs 5 crore last year.

The Others segment, comprising Bistro and Nugget, reported adjusted revenue of Rs 132 crore, compared with Rs 95 crore in the previous quarter. Adjusted EBITDA loss narrowed to Rs 91 crore from Rs 94 crore in Q1FY27.

Further, Eternal announced an internal restructuring of its Going-out India business, transferring the business to its wholly owned subsidiary, Zomato Entertainment Private Limited (ZEPL), through a slump sale on a going-concern basis. The businesses currently housed in two other subsidiaries, Orbgen Technologies Private Limited and Wasteland Entertainment Private Limited, are also proposed to be consolidated into ZEPL to streamline the group's corporate structure and achieve operational synergies.

Separately, Eternal will transfer its entire stake in Adonmo to Vivish Technologies Private Limited (Mygate) in exchange for shares in Mygate as part of a proposed merger between the two companies. Following the proposed merger, Eternal is expected to hold around 4.4% of the merged entity on a fully diluted basis, with the stake valued at approximately Rs 156 crore. The company had invested Rs 112 crore in Adonmo in January 2022.