Eternal's Q2 results: Net profit declines 63% YoY to ₹65cr
What's the story
Eternal Ltd, formerly known as Zomato, has reported a 63% year-on-year decline in its net profit for the second quarter of FY26. The company's profit after tax (PAT) stood at ₹65 crore, down from ₹176 crore during the same period last year. The rebranding from Zomato to Eternal took place in March this year. In the previous quarter, it had posted a net profit of ₹25 crore.
Revenue growth
Revenue from operations jumps 183% YoY
Despite the drop in net profit, Eternal's revenue from operations saw a whopping 183% year-on-year jump to ₹13,590 crore in Q2. This is a significant increase from ₹4,799 crore recorded during the same period last year. The company had posted a revenue of ₹7,167 crore in the previous quarter. However, total expenses also increased by 188% to ₹13,813 crore for the quarter ending September.
Financial overview
Cash balance stands at ₹18,314cr
Eternal ended the September quarter with a cash balance of ₹18,314 crore, slightly down from ₹18,857 crore in the previous quarter. The adjusted revenue for its food delivery business rose 22% YoY to ₹2,863 crore during this period. On a sequential basis, it reported revenue of ₹2,657 crore in Q1 FY26. The net order value (NOV) for this segment also increased from ₹8,967 crore in Q1 FY26 to ₹9,423 crore in the September quarter.
Quick commerce
Blinkit posts EBITDA loss of ₹156cr
Eternal's quick commerce arm, Blinkit, reported an EBITDA loss of ₹156 crore in Q2 FY26. This was a significant increase from the loss of ₹8 crore during the same period last year. The company's revenue skyrocketed by 756% YoY to ₹9,891 crore due to its shift to an inventory ownership model. It had posted a revenue of ₹2,400 crore in the previous quarter.
Business metrics
Blinkit's dark store count grows to 1,816
Blinkit's net order value (NOV) for the quarter increased by 137% to ₹11,679 crore. This is a huge jump from ₹4,928 crore in Q2 FY25 and ₹9,203 crore in the previous quarter. The company's dark store count also grew from 791 last year to 1,816 in Q2 FY26, while average monthly transacting users reached 20.8 million this quarter as compared to 8.9 million in Q2 FY25. It plans to have 3,000 dark stores by March 2027.