Eternal Share Price Hits Record High as Blinkit Surpasses Zomato in Revenue

Market Performance

On Tuesday, July 22, Eternal Ltd — formerly known as Zomato — witnessed a massive surge in its share price.

• As of 9:40 a.m., the Eternal share price was quoting ₹311.25, up 11% on the NSE.
• This gain followed a 7% jump in the previous session, driven by the company's April–June quarter earnings.
• The stock touched a fresh all-time high, continuing its recent upward trend.

Main News

Despite posting a significant decline in quarterly profits, Eternal Ltd's revenue performance — especially from its quick commerce arm Blinkit — turned heads.

• Blinkit’s Q1 revenue stood at ₹2,400 crore, surpassing Zomato’s food delivery revenue of ₹2,261 crore.
• The company’s CFO highlighted that Blinkit’s net order value (NOV) has now overtaken Zomato’s for the first time.
• Eternal’s B2C operations are now operating at an annualised NOV of nearly $10 billion, with quick commerce contributing nearly 50%.

This shift reflects a strong structural change within the business model, positioning Blinkit as the company’s new growth engine.

Company Financials Overview

Revenue

• Total consolidated revenue rose 70% YoY, reaching ₹7,167 crore in Q1 FY26.
• This marks a strong top-line performance, despite the pressure on the bottom line.

Net Profits

• Net profit dropped 90% YoY, falling from ₹253 crore to ₹25 crore.
• The decline reflects elevated operational costs and scaling investments in Blinkit.

EBITDA

• EBITDA came in at ₹115 crore for the quarter.
• This marks a 35% decline compared to the same quarter last year.

EBITDA Margins

• Margins remained under pressure due to increased spending on growth and logistics, particularly in the quick commerce segment.

Company Details

Formerly operating under the Zomato name, Eternal Ltd has gradually transitioned its identity toward a more diversified B2C structure.

• The most notable transformation is the rise of Blinkit, which now outperforms traditional food delivery operations in revenue.
• This shift has significantly boosted investor interest and contributed to the recent surge in Eternal's share price.

The firm’s internal data underscores the momentum of quick commerce, which is rapidly becoming its primary business line.

Summary of the Article

• Eternal share price surged 11% to ₹311.25 on July 22, continuing its bullish momentum.
• Blinkit’s revenue surpassed Zomato's in Q1, marking a key shift in business performance.
• Total revenue climbed 70% YoY to ₹7,167 crore, but net profit dropped 90% YoY to ₹25 crore.
• EBITDA fell 35% YoY to ₹115 crore, with margins impacted by growth expenses.
• Eternal’s B2C NOV has crossed $10 billion annualised, with quick commerce contributing nearly 50%.

Despite profit pressures, Eternal Ltd's strong revenue performance and Blinkit’s rapid growth have fueled positive market sentiment, propelling the Eternal share price to new highs.