Eternal Q2 Results FY27: Profit Jumps 92% To ₹125 Crore, Revenue Rises 78%; Blinkit Adds 308 Stores
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Eternal reported a 92% rise in Q2 profit as revenue jumped 78%, led by growth across its food delivery and quick-commerce businesses. Blinkit added 308 stores during the quarter, while the company also announced transactions involving MyGate and its Going-out India business.
Eternal Ltd, the parent company of Zomato and Blinkit, reported its Q2 FY27 results after market hours on Wednesday, October 21, with consolidated net profit rising 92.3% year-on-year to ₹125 crore from ₹65 crore in the same quarter last year.
Revenue from operations increased 77.6% to ₹24,138 crore during the September quarter from ₹13,590 crore a year ago. On a sequential basis, profit rose 35.9% from ₹92 crore, while revenue increased 19.4% from ₹20,211 crore in the June quarter.
EBITDA rose to ₹752 crore from ₹239 crore in the year-ago period, while EBITDA margin improved to 3.1% from 1.8%. Total expenses increased to ₹24,166 crore from ₹13,813 crore a year earlier.
The results were announced after the stock market closed. Eternal shares ended Wednesday's session lower, meaning the day's stock movement came before the Q2 numbers were released.
Eternal Q2 Results FY27
Blinkit continued to drive growth for Eternal during the September quarter. Net order value for the quick-commerce business rose 79.3% year-on-year to ₹20,940 crore.
The company added 308 Blinkit stores during the quarter, taking the total store count to 2,751. Eternal expects the network to cross 3,500 stores by March 2027 and plans to have around 5,000 stores by March 2028.
Blinkit's adjusted EBITDA improved to ₹184 crore from ₹102 crore in the June quarter.
The Zomato food-delivery business also recorded growth during Q2. Net order value rose 21.5% year-on-year to ₹11,445 crore, while adjusted EBITDA increased 25% to ₹627 crore.
Eternal Announces MyGate Deal
Along with its Q2 results, Eternal announced a share-swap transaction involving gated-community platform MyGate and advertising technology company Adonmo.
Eternal will acquire a 5.4% stake in Vivish Technologies, which operates MyGate, for a consideration of around ₹156 crore. In exchange, the company will transfer its holdings in Adonmo.
The transaction is part of a proposed merger involving Adonmo and MyGate. Eternal's stake is expected to stand at around 4.4% in the merged entity on a fully diluted basis after completion of the proposed merger. The transaction is expected to be completed on or before December 5.
Eternal To Transfer Going-Out India Business
Eternal's board also approved the transfer of its Going-out India business to wholly owned subsidiary Zomato Entertainment Private Ltd through a slump sale.
The business will be transferred for a cash consideration of ₹130.76 crore. The company is also proposing to consolidate similar Going-out businesses housed in its subsidiaries under Zomato Entertainment. The restructuring will bring the group's Going-out businesses under a single entity.
Eternal shares closed at ₹311.75 on the BSE on Wednesday, down 2.71% for the session. The stock had fallen as much as 5% during the day, before the Q2 results were announced after market hours.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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