Gurugram: Eternal, the parent of Zomato and Blinkit, reported a strong September quarter. Its consolidated net profit came in at Rs 125 crore, up 92.3% from Rs 65 crore a year earlier.
Revenue from operations surged 77.6% to Rs 24,138 crore, against Rs 13,590 crore in the year-ago quarter. On a sequential basis, net profit rose 36% from Rs 92 crore in the June quarter, while revenue climbed 19.4% from Rs 20,211 crore.
The company credits much of the momentum to Blinkit, its quick-commerce arm. Eternal runs food delivery, quick commerce, Hyperpure supplies and the District going-out app.
The stock rose over 2% after the numbers. Brokerages see up to 34% upside.
Eternal had earlier ruled out launching its own private labels at Blinkit. Even as competition in quick commerce intensifies, the company's revenue growth has held up.
The result matters to investors because valuations of technology and consumer companies have swung sharply in recent months.
Competition in quick commerce is heating up and Blinkit faces challenges from rivals, yet it clocked solid growth last quarter. Eternal has said it will not launch its own private labels and will lean on partnerships with sellers. The food delivery business stayed steady, while the District going-out app and Hyperpure supplies also contributed. Analysts say holding on to growth while keeping costs in check is the company's biggest test.
Eternal's numbers drew attention to other quick-commerce and food delivery players too. Investors will watch how well the company manages costs and margins. If the performance holds in the next quarter, the stock could gain further strength.