Eternal share price fell almost 2% during Friday’s trading after the food delivery and quick commerce company, which operates the Zomato and Blinkit brands, announced a consolidated net profit of ₹65 crore for the quarter ending in September. The quick commerce segment played a crucial role in driving its revenue growth.
The firm, which changed its name to Eternal in March, reported a net profit of ₹176 crore for the June-September quarter of the previous fiscal year. Zomato’s food delivery net order value (NOV) grew by 14 percent year-over-year, showing a slight improvement from the 13 percent YoY NOV growth recorded in the prior quarter.
For the quarter in review, Eternal’s revenue from operations reached ₹13,590 crore, up from ₹4,799 crore in the same period last year.
The company incurred total expenses of ₹13,813 crore during the quarter, compared to ₹4,783 crore a year earlier.
Eternal’s division of reporting includes its Indian food ordering operations, quick commerce, Hyperpure supplies (B2B sector), dining out, and other residual segments.
The net order value (NOV) growth for the quick commerce sector surged to 137 percent year-on-year, hitting a high of ₹11,679 crore, compared to ₹4,928 crore during the equivalent June-September quarter of the prior year. The adjusted revenue for the quick commerce segment skyrocketed by 756 percent to ₹9,891 crore, up from ₹1,156 crore a year ago, as per the data.
