Latest News | Eternal Shares Continue Winning Run; Jump Nearly 15 Pc
Get latest articles and stories on Latest News at LatestLY. Shares of food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, on Tuesday jumped nearly 15 per cent after its June quarter earnings announcement.
New Delhi, Jul 22 (PTI) Shares of food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, on Tuesday jumped nearly 15 per cent after its June quarter earnings announcement.
The stock jumped 14.89 per cent to Rs 311.60 -- its 52-week high -- on the BSE.
At the NSE, it surged 14.55 per cent to hit the 52-week high of Rs 311.25.
Shares of Eternal had jumped nearly 6 per cent on Monday also.
The stock emerged as the biggest gainer among the Sensex and Nifty firms during the morning trade.
"Eternal once again surprised us positively on Blinkit. This time though, the surprise was more on management commentary than the reported numbers, as it was quite a contrast to the cautious tone post 4QFY25 results," according to a report by JM Financial Institutional Securities Limited.
Eternal on Monday reported a consolidated net profit of Rs 25 crore for the June quarter, as continuing investments in quick commerce and going-out businesses weighed down on its bottomline.
The company, which rebranded itself as Eternal in March, had reported a net profit of Rs 253 crore in the year-ago period.
In a regulatory filing, Eternal said the results are not comparable with the corresponding quarter last year on account of the acquisition of Orbgen Technologies Pvt Ltd and Wasteland Entertainment Pvt Ltd, holding the 'movies ticketing' and the 'events' businesses, respectively, from One 97 Communications Ltd, (Paytm's parent firm) which was completed in August 2024.
During the quarter under review, Eternal's revenue from operations stood at Rs 7,167 crore, up from Rs 4,206 crore a year ago, the company said in a regulatory filing, adding that, for the first time, its quick commerce net order value (NOV) exceeded food delivery NOV for the full quarter.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)