Eternal vs Swiggy: As the earnings season continues, quick commerce firms Eternal (Zomato) and Swiggy have announced their financial results for the April–June quarter of FY27.
On Monday, Eternal share price surged as much as 1.69% to ₹303.50 apiece, meanwhile, Swiggy share price rose marginally higher to ₹286.40 on NSE.
Q1 results 2026 reviews
Zomato Q1 results 2026
The parent company of Zomato posted a 268% year-on-year (YoY) rise in consolidated net profit to ₹92 crore for the April-June quarter of FY27 (Q1FY27). However, its profit declined 47.1% sequentially from the previous quarter.
The company had reported a profit of ₹25 crore in the corresponding quarter last year, while its net profit stood at ₹174 crore in Q4FY26.
Eternal’s consolidated revenue from operations surged 182% YoY and 16.88% quarter-on-quarter (QoQ) to ₹20,211 crore. The sharp increase was primarily driven by the transition to the 1P model in its quick commerce business, under which revenue now includes the full value of goods sold, compared with Q1FY26, when it largely reflected marketplace commissions.
For comparison, the company had reported revenue of ₹7,167 crore in Q1FY26 and ₹17,292 crore in Q4FY26.
Swiggy Q1 results 2026
The leading food delivery and quick-commerce platform reported a sharp improvement in its financial performance, with its consolidated net loss narrowing to ₹791 crore in the April–June quarter from ₹1,197 crore a year earlier. On a quarter-on-quarter basis, the loss also eased from ₹800 crore recorded in the March quarter.
Consolidated revenue from operations rose 37% year-on-year to ₹6,812 crore during the quarter, driven by continued strong momentum in the company’s quick-commerce business, which remained the key contributor to revenue growth.
For comparison, the company had posted revenue from operations of ₹4,961 crore in the same quarter last year, while revenue stood at ₹6,383 crore in the March quarter (Q4 FY26).
At the operating level, adjusted EBITDA loss narrowed to ₹650 crore during the quarter, compared with ₹945 crore in the corresponding period of the previous fiscal.
Eternal vs Swiggy: Which food delivery stock to buy?
According to Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, among the two listed food delivery players, Eternal appears to be the stronger investment choice compared to Swiggy, backed by its relatively stronger fundamentals and business execution.
“Investors with a medium- to long-term investment horizon may consider accumulating Eternal on declines, while remaining selective and monitoring the company’s growth trajectory and profitability,” Ojha said.
Meanwhile, Harshal Dasani, Business Head – INVasset PMS, believes that Eternal continues to stand out from a risk-reward perspective, as it offers better earnings visibility, stronger cash generation and a more diversified platform with food delivery, quick commerce, B2B supplies and the District business.
“Swiggy has the potential to narrow the valuation gap if its profitability trajectory continues to improve over the next few quarters, but at this stage the burden of proof still rests with execution. In platform businesses, growth attracts attention, but sustained profitability and capital discipline ultimately determine long-term value creation,” Dasani said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
