Food delivery services firm Eternal (formerly Zomato) for the quarter ended March 31, 2025 reported a consolidated net profit of Rs 39 crore, marking a 77 per cent decline year-over-year. In the corresponding period of the previous year, the company’s profit stood at Rs 175 crore, while in the December quarter it reported net profit at Rs 59 crore.
The profit took a hit on the back of a sharp rise in expenses which during the quarter soared to Rs 6104 crore as against Rs 3,636 crore in the same period of the previous year. On quarter-on-quarter (QoQ) basis, the expenses increased over 10 per cent.
Zee Business research estimated profit to come in at Rs 47 crore during the review period.
Meanwhile, the company’s revenue from operations during the March quarter is reported at Rs 5,833 crore, rising 64 per cent year-over-year. In the same period of the previous fiscal year, the company’s revenue was at Rs 3,562 crore. The revenue, however, was below analysts’ estimates at Rs 5,840 crore.
“We don’t see any long-term structural reason for this slowdown, as the fundamentals – low penetration of restaurant food and increasing urbanisation and per capita income in India – remain unchanged,” said Deepinder Goyal, Founder and CEO, Eternal.“
We have a number of promising initiatives in the pipeline – hoping some of them will work and lead to higher growth, without compromising on profitability, he added.
Zomato’s operational performance
Adjusted EBITDA or earnings before interest, taxes, depreciation, and amortization fell 15 per cent on-year to Rs 165 crore due to the impact of increased store expansion in quick commerce (QC).
Food delivery business
Eternal’s main food delivery business showed steady performance with GOV (Gross Order Value) at Rs 8,439 crore, rising 6 per cent sequentially.
Blinkit
The company’s Quick commerce (QC) arm Blinkit posted a strong growth in revenue during the review quarter to Rs 1,709 crore versus Rs 769 crore in the year-ago period. The Net Order Value (NOV) also jumped 53% year-over-year.
According to the company’s stock exchange filing, Blinkit has added 294 net new stores in Q4, and is on track to get to 2,000 stores by December 25.
“Our priority is to build a strong, reliable network. Profitability will follow scale,” said the company’s management.
NOV metric introduced
From the quarter ended March 31, 2025, the company has started reporting net order value or NOV (in addition to GOV) for its B2C businesses (food delivery, quick commerce and going-out).“NOV of our B2C businesses grew 53 per cent YoY (5 per cent QoQ) to Rs 17,440 crore in Q4 FY25,” informed the company.
Zomato’s share price performance
Ahead of the company’s earnings today, the stock in Wednesday’s session closed with tad gains of 0.6 per cent at Rs 232.5 per share on the BSE.
(With agency inputs)
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