Eternal Ltd, formerly Zomato, which runs the food delivery service Zomato and the quick commerce company Blinkit, announced on October 16 a 63% year-on-year (YoY) drop in quarterly profit after tax (PAT) to Rs 65 crore for the second quarter (Q2) of the financial year 2025-26 (FY26), compared to Rs 176 crore in the same period the previous year.
In March, the company changed its name from Zomato to Eternal and had announced a net profit of Rs 25 crore in the last quarter. Zomato's operational revenue increased by 183 percent year-over-year to Rs 13,590 crore in the second quarter, compared to Rs 4,799 crore the previous year. In the preceding quarter, it had reported a revenue of Rs 7,167 crore.
The expenses of the Gurugram-based company increased by 188% to Rs 13,813 crore in the quarter ending in September, up from Rs 4,783 crore in the same period the previous year and Rs 7,433 crore in the preceding quarter. Zomato ended the quarter with a cash reserve of Rs 18,314 crore, down from Rs 18,857 crore in the previous quarter.
The organization, led by Deepinder Goyal, announced the creation of a wholly-owned subsidiary named Eternal General Service Foundation ('Eternal Foundation').
The adjusted revenue for the food delivery segment rose by 22 percent year-on-year to Rs 2,863 crore in the September quarter, compared to Rs 2,340 crore in the same period last year. Sequentially, the revenue increased from Rs 2,657 crore in the previous quarter.
The net order value (NOV) for this company increased from Rs 8,967 crore in the first quarter of FY26 to Rs 9,423 crore in the September quarter. On an annual basis, NOV rose from Rs 8,281 crore in the second quarter of FY25. The average monthly transacting customers (MTCs) for Zomato's food delivery segment grew to 24.1 million from 22.9 million in the prior quarter. The platform had 20.7 million MTCs during the same period last year.
Blinkit, Zomato's rapid commerce segment, reported an EBITDA loss of Rs 156 crore in the second quarter of fiscal year 2026, up from a Rs 8 crore loss in the same quarter the previous year, attributed to the company's vigorous expansion of dark stores. Nonetheless, the adjusted EBITDA loss was lower than the Rs 162 crore recorded in the first quarter of fiscal year 2026 on a sequential basis.
Blinkit experienced a significant 756 percent year-on-year revenue growth, reaching Rs 9,891 crore, compared to Rs 1,156 crore in the second quarter of fiscal year 2025, due to its transition to an inventory ownership model. In the preceding quarter, the company reported a revenue of Rs 2,400 crore.
During the September quarter, its NOV surged by 137 percent to Rs 11,679 crore, up from Rs 4,928 crore in Q2 FY25 and Rs 9,203 crore in the preceding quarter. Blinkit's net average order value (AOV) remained nearly unchanged sequentially at Rs 524 in Q2, compared to Rs 521 in the previous quarter, and was marginally lower than Rs 531 in the same period last year.
The number of dark stores rose year-over-year from 791 in the previous year to 1,816 in the second quarter of fiscal year 2026, while the average monthly transacting users grew to 20.8 million this quarter, up from 8.9 million in the second quarter of fiscal year 2025.
Going out
Revenue for Zomato’s Going Out business declined almost 26 percent YoY to Rs 189 crore in Q2, compared to Rs 154 crore in Q2 FY25, and Rs 207 crore in Q1 FY26. NOV for the business, on the other hand, increased to Rs 2,063 crore in Q2, from Rs 2,313 crore a quarter ago. The company reported an NOV of Rs 1,562 crore a year ago.