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Informist, Thursday, May 1, 2025

 

-- Eternal Jan-Mar consol net profit INR 390 mln

-- Six analysts saw Eternal Jan-Mar consol net profit INR 722.17 mln

-- Three analysts saw Eternal Jan-Mar consol net loss INR 246 mln-INR 771 mln

-- Eternal Jan-Mar consol net profit INR 390 mln vs INR 1.75 bln year ago

-- Eternal Jan-Mar consol revenue INR 58.33 bln vs INR 35.62 bln year ago

-- Eternal FY25 consol net profit INR 5.27 bln vs INR 3.51 bln year ago

-- Eternal FY25 consol revenue INR 202.43 bln vs INR 121.14 bln year ago

-- Eternal Jan-Mar consol adjusted EBITDA INR 1.65 bln vs INR 1.94 bln yr ago

-- Eternal Jan-Mar food delivery gross order value INR 97.78 bln, up 16% YoY

-- Eternal Jan-Mar quick commerce gross order value INR 94.21 bln, up 134% YoY

-- Eternal Jan-Mar going-out gross order value INR 21.84 bln, up 104% on year

-- Eternal Jan-Mar food delivery adjusted revenue INR 24.09 bln, up 17% on yr

-- Eternal Jan-Mar quick commerce revenue INR 17.09 bln, up 122% on year

-- Eternal Jan-Mar hyperpure revenue INR 18.40 bln, up 93% on year

-- Eternal Jan-Mar going-out revenue INR 2.29 bln, up 146% on year

-- Eternal Jan-Mar average monthly customers 13.7 mln vs 10.6 mln qtr ago

-- Eternal Jan-Mar net store additions 294 vs 216 qtr ago

 

By Rajesh Gajra

 

NEW DELHI - As expected, accelerated investments in expanding its Blinkit store network hit Eternal Ltd.'s bottom line for the second consecutive quarter in Jan-Mar, but the blow was softened by a substantial on-year jump in operating profit from its food delivery business through the Zomato restaurant aggregator app.

 

The consolidated net profit of the company in the March quarter fell 78% on year to INR 390 million. It surpassed Street's expectation of INR 328 million, based on an average of net profit estimates by analysts from nine brokerage firms. But three analysts had estimated a consolidated net loss of INR 246 million-INR 771 million, while the remaining six analysts' average net profit estimate was INR 722.17 million.

 

The company reported a 64% on-year growth in consolidated revenue from operations to INR 58.33 billion, slightly lower than the Street's estimate of INR 58.79 billion. Eternal, formerly Zomato, is a popular restaurant aggregator and food, grocery, and household items delivery company. The company, along with its competitor Swiggy, form the fulcrum of the quick commerce industry in the country.

 

The operating expenses on account of new store additions were elevated for Eternal as it added 294 stores in its quick commerce segment, which is its Blinkit network in the latest quarter, taking the total count to 1,301. The company had added 216 Blinkit stores in the previous quarter and 152 stores in the September quarter. Eternal has set a target of 2,000 Blinkit store network by the end of the current calendar year.

 

Eternal operates three business-to-commerce segments of food delivery, quick commerce, and going-out, and one business-to-business segment of restaurant and non-restaurant supplies through its Hyperpure network. The top line growth of the company from its business-to-consumer segments is dependant on the order value growth.

 

During the reporting quarter, Eternal's food delivery segment saw a 16% on-year increase in gross order value at INR 97.8 billion. The same metric for quick commerce segment jumped 2.3 times to INR 94.2 billion. In the going-out segment, the gross order value doubled to INR 21.8 billion.

 

Among these segments, the revenue of the food delivery business, adjusted for actual customer delivery charges and platform fee paid, rose 17% on year to INR 24.1 billion. The adjusted revenue in the quick commerce segment jumped 2.2 times to INR 17.1 billion, while that in going-out segment rose sharply by 2.5 times to INR 2.3 billion.

 

The company said increased investment in marketing to accelerate the pace of customer acquisitions in the three B2C segments resulted in the average monthly transacting customers rise to 13.7 million in the March quarter from 10.6 million in the previous quarter. The B2B segment of Hyperpure saw adjusted revenue rising 93% on year to INR 18.4 billion.

 

Eternal's consolidated EBITDA adjusted for share-based payment expense and rentals paid in the March quarter declined 29% on year to INR 1.65 billion. This was primarily on account of a substantial expansion of EBITDA loss in the quick commerce segment to INR 1.78 billion in the March quarter from INR 370 million in the year ago quarter. The food delivery segment, however, saw a 2.5 times jump on year in adjusted EBITDA to INR 4.3 billion. The B2B Hyperpure segment recorded a decline in its EBITDA loss to INR 220 million in the March quarter from INR 230 million a year ago.

 

In the full year 2024-25 (Apr-Mar), Eternal's consolidated net profit rose to INR 5.3 billion from INR 3.5 billion in the previous financial year, while its consolidated revenue jumped to INR 202.4 billion from INR 121.1 billion.

 

On Wednesday, shares of Eternal ended 0.6% up at INR 232.52 on the National Stock Exchange of India Ltd.  End

 

Edited by Vandana Hingorani

 

 

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