Eternal Q4 net profit declines 78 per cent to Rs 39 crore
BENGALURU: Eternal (formerly known as Zomato) on Thursday reported a 78% decline in its consolidated net profit for the quarter ended March 2025, at Rs 39 crore, compared to Rs 175 crore in the year-ago period.
The company's revenue from operations stood at Rs 5,833 crore, marking a 64% year-on-year increase compared to Rs 3,562 crore in the same quarter last year.
The company's adjusted EBITDA declined 15% year-on-year to Rs 165 crore, due to the impact of accelerated store expansion in quick commerce.
Blinkit added 294 net new stores and is on track to reach 2,000 stores by December 2025.
In his letter to shareholders, Deepinder Goyal, Founder & CEO of Eternal, said they are shutting down Zomato Quick and Everyday as they do not see a path to profitability. 'The current restaurant density and kitchen infrastructure are not set up for delivering orders in 10 minutes, which leads to inconsistent customer experience.
As a result, we did not see any incrementality in demand while we ran Quick as an experiment for a few months,' he said. 'With Everyday, we realized that the need for homely meals is a limited use case, largely for office locations in metros. We did not see enough ROI to justify keeping it running at a small scale,' he added.
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