Eternal Ltd posts 47% quarterly net profit fall to ₹92cr
Business
Eternal Ltd. the company behind Zomato and Blinkit, just reported a 47% drop in net profit this quarter (₹92 crore vs. ₹174 crore last quarter).
But compared to last year, profits actually more than tripled, so it's not all bad news.
Revenue rises 17% to ₹20,211cr
Revenue jumped 17% from last quarter to ₹20,211 crore, more than double what it made a year ago.
Founder Deepinder Goyal says it's focused on steady growth instead of quick wins, especially with rivals like Swiggy and Rapido pushing discounts.
He's betting on Bistro (Blinkit's food delivery arm) as its answer for changing customer tastes, without relying on heavy discounts.