Eternal(Zomato) Q4 Results: Net down 78%, revenues up 64% to ₹5,833 cr
Eternal (Zomato) Q4 2025 Results: Revenue Growth vs Profit Decline Analysis
Published May 1, 2025
Table of Contents
Eternal Ltd reports mixed Q4 2025 results with strong revenue growth but significant profit decline
Financial Overview
Eternal Ltd (formerly known as Zomato Ltd) has reported its Q4 2025 financial results, revealing a complex picture of growth and challenges. While the company achieved a 64% year-over-year increase in consolidated revenue to ₹5,833 crore, its net profit declined by 78% to ₹39 crore compared to ₹175 crore in the same period last year.
Key Financial Metrics:
- Revenue: ₹5,833 crore (↑64% YoY)
- Net Profit: ₹39 crore (↓78% YoY)
- B2C Net Order Value: ₹17,440 crore (↑53% YoY)
- Food Delivery NOV: ₹8,210 crore (↑14% YoY)
- Quick Commerce NOV: ₹7,362 crore (↑121% YoY)
Food Delivery Business Performance
The company’s food delivery business showed mixed results, with net order value growing 14% year-over-year to ₹8,210 crore, but declining 3% quarter-over-quarter. Deepinder Goyal, Founder and CEO of Eternal, attributed this slowdown to several factors, including a sluggish demand environment and temporary delivery partner shortages due to the rapid expansion of quick commerce.
Challenges in Food Delivery:
- Sluggish demand environment
- Delivery partner shortages
- Competition from quick commerce
- Quarter-over-quarter decline in NOV
Quick Commerce Expansion
Blinkit, Eternal’s quick commerce business, continues to show strong growth with a 121% increase in net order value to ₹7,362 crore. The company added 294 new stores in Q4, marking its highest-ever quarterly store addition, and remains on track to reach 2,000 stores by December 2025.
Blinkit Growth Metrics:
- 294 new stores added in Q4
- Target of 2,000 stores by December 2025
- Expected steady-state profit potential: 5-6% of NOV
- Continued expansion plans
Market Analysis
The company’s performance reflects broader trends in the Indian food tech and quick commerce sectors. While the fundamentals of the market remain strong, with low penetration of restaurant food and increasing urbanization, the competitive landscape has evolved significantly with the rise of quick commerce.
Market Fundamentals:
- Low penetration of restaurant food
- Increasing urbanization
- Growing per capita income
- Strong long-term growth potential
Future Outlook
Looking ahead, Eternal remains optimistic about its growth prospects. The company has several initiatives in the pipeline aimed at driving growth without compromising profitability. While acknowledging the current challenges, management believes these are temporary rather than structural issues.
The company’s strategy appears to be focused on balancing growth across its food delivery and quick commerce businesses while maintaining financial discipline. As the market continues to evolve, Eternal’s ability to adapt to changing consumer preferences and competitive dynamics will be crucial to its long-term success.
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