Eternal's Shares Soar After Positive Blinkit Commentary

Shares of Eternal, which owns Zomato and Blinkit, surged nearly 15% after its June quarter earnings announcement. Eternal reported a Rs 25 crore net profit despite ongoing investments. Revenue improved significantly, with quick commerce net order value surpassing food delivery. Recent acquisitions have made results incomparable to previous years.

In a significant rally, shares of Eternal, the company behind Zomato and Blinkit, skyrocketed by nearly 15% following the announcement of its June quarter earnings results. The stock reached Rs 311.60 on the BSE, marking its 52-week high.

On the NSE, the stock rose by 14.55% to reach a similar peak of Rs 311.25. This follows a near 6% gain the previous day, establishing Eternal as the top performer among Sensex and Nifty companies during the morning session.

Despite a net profit decline to Rs 25 crore, with significant investments in quick commerce and going-out businesses, the company's revenue from operations climbed to Rs 7,167 crore. The results reflect a strategic shift, including the acquisition of Orbgen Technologies and Wasteland Entertainment, contributing to the current financial landscape.

(With inputs from agencies.)