Eternal (formerly Zomato) reported strong Q3FY26 results, driven by quick commerce and Hyperpure turning EBITDA positive. Consolidated Adjusted Revenue soared 190% YoY to INR 16,692 crore, while B2C NOV grew 55%. Food delivery growth accelerated, and quick commerce maintained robust expansion. District losses increased due to investments, with breakeven expected in 4-6 quarters.
Financial Performance Highlights
Eternal (formerly Zomato) announced its Q3FY26 results, showcasing significant growth across key business segments:
- Adjusted Revenue: Increased by 190% YoY to INR 16,692 crore.
- Adjusted EBITDA: Reached INR 364 crore, a 28% increase YoY.
- B2C NOV (Net Order Value): Grew by 55% YoY to INR 25,732 crore.
The company’s B2C Net Order Value (NOV) has surpassed INR 1 lakh crore annualized.
Segment Performance
Quick Commerce (Blinkit)
Quick commerce achieved a key milestone, turning Adjusted EBITDA positive. The segment demonstrated strong growth:
- NOV Growth: Remained robust at 121% YoY, with like-for-like growth exceeding 130%.
- New Stores: Added 211 net new stores, bringing the total count to 2,027.
Food Delivery
The food delivery segment showed signs of recovery and improved profitability:
- NOV Growth: Accelerated to 16.6% YoY.
- Adjusted EBITDA Margin: Reached an all-time high of 5.4%.
Hyperpure
The restaurant supply business also turned Adjusted EBITDA positive for the first time.
- Grew steadily at 33% YoY.
District
District’s losses increased due to continued investments in category creation, with breakeven expected in the next 4-6 quarters.
Operational Updates and Future Outlook
The company is focused on long-term value creation and disciplined execution, aiming to expand margins and achieve sustained growth across its business segments.
Eternal expects losses in District will reduce sequentially towards breakeven in the next 4-6 quarters.
The company anticipates an increase in the store count to 3,000 stores by March 2027, assuming continued irrational competitive intensity. However, if the competition moderates in the near term, Eternal would aim for 3,500-4,000 stores by March 2027.
Source: BSE
