News

Eternal Q4 Results: Food delivery company Eternal, formerly known as Zomato, on Thursday reported a 77.7% fall in its March quarter consolidated net profit at ₹39 crore versus ₹175 crore reported in the year ago period. The revenue from operations in Q4FY25 stood at ₹5,833 crore, which was up by 63.8% over ₹3,562 crore in the corresponding quarter of the previous financial year.

On a sequential basis, the profit after tax (PAT) was down by 34% over ₹59 crore reported in Q3FY25. Meanwhile, the topline was higher by 8% on a sequential basis versus ₹5,405 crore reported in the December quarter.

The decline in profit was also linked to greater investments in enhancing the company’s quick commerce division, Blinkit, along with rising infrastructure expenses across various segments.

Akshant Goyal, the Chief Financial Officer, mentioned in an exchange filing that the consolidated Adjusted EBITDA fell by 15% year-over-year to ₹165 crore in Q4FY25. 

This decline was primarily due to increased investments in the expansion of our quick commerce store network, although it was partially mitigated by an improvement in the Adjusted EBITDA margin for food delivery, which rose to 5.2% from 3.8% the previous year.

"We added 294 net new stores in Q4FY25, making it our highest-ever net store addition in a single quarter. As a result, ~40% of our overall network of 1,301 stores are underutilized stores, opened in the last two quarters alone (216 in Q3FY25 and 294 in Q4FY25). We also added 1 million sq ft of new warehousing space to support the store expansion. Despite that, the contribution margin increased from 3.8% to 3.9% of net order value said Albinder Dhindsa, CEO of Blinkit.

(more to come)

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.