Eternal's revenue jumps 70% but profit drops 90%—what's happening?
Eternal—the company behind Zomato and BlinkIt—just posted a 70% jump in revenue this quarter, hitting ₹7,167 crore.
But here's the twist: net profit crashed by 90%, dropping to just ₹25 crore.
Basically, they're growing fast but spending even faster.
BlinkIt leaves Zomato in the dust
BlinkIt's quick commerce business is on fire, with revenue shooting up 155% to ₹2,400 crore—leaving Zomato's food delivery growth (16%) in the dust.
Hyperpure (their B2B supplies arm) also nearly doubled its numbers.
Still, all this growth meant big investments and a 42% drop in adjusted EBITDA.
Expenses rise by 15%
Expenses rose by 15%, mainly because of higher delivery and ad costs as Eternal goes all-in on quick commerce and "going-out" services.
Even with profits down, investors seem optimistic—the stock jumped over 7%, putting Eternal's market value at ₹2.64 lakh crore.
Eternal is betting hard on new trends
Eternal is betting hard on new trends like instant delivery—even if it means short-term pain for long-term gain.
For anyone curious about where their next meal or last-minute order comes from, these moves could shape how we get stuff delivered in the future.