Eternal's Stock Soars Post Earnings Announcement

Eternal, the owner of Zomato and Blinkit, saw its shares increase by nearly 6% following its June quarter earnings report. The company posted a consolidated net profit of Rs 25 crore, amid ongoing investments. Eternal re-branded in March and completed acquisitions affecting year-on-year comparisons.

Shares of food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, experienced a nearly 6 percent jump on Monday following the announcement of its June quarter earnings.

The stock surged by 5.38 percent, settling at Rs 271.20 per share on the BSE, and went as high as Rs 276.80 during the day. Meanwhile, on the NSE, shares increased by 5.63 percent to Rs 271.70 each.

Eternal's market valuation rose by Rs 13,365.74 crore to reach Rs 2,61,717.51 crore, making it the top gainer among Sensex and Nifty companies. Despite investments in quick commerce, the company reported a net profit of Rs 25 crore for the quarter, compared to Rs 253 crore in the same period last year. Significant acquisitions completed in August 2024 could impact year-on-year comparisons. Revenue increased to Rs 7,167 crore from Rs 4,206 crore a year ago, while total expenses jumped to Rs 7,433 crore from Rs 4,203 crore.

(With inputs from agencies.)