Eternal Q3 results: Zomato parent Eternal on Wednesday, January 21, reported a 72.88% year-on-year (YoY) jump in its consolidated profit to ₹102 crore for the December quarter of the current financial year (Q3FY26). In the same quarter last year, the company's profit was ₹59 crore, as per the exchange filing.
Consolidated revenue from operations for the quarter under review more than tripled to ₹16,315 crore from ₹5,405 crore in the same quarter last year.
Meanwhile, Deepinder Goyal has resigned as Director, Managing Director and the CEO of Eternal, effective February 1, 2026. The Board has recommended his name for appointment as Vice Chairman and Director, while Blinkit's Albinder Singh Dhindsa will replace Goyal as the CEO.
Eternal Q3 earnings: Key highlights
1. Consolidated key numbers
As per the company's exchange filing, Eternal's adjusted revenue grew 190% YoY and 19% QoQ to ₹16,692 crore, though like-for-like growth was 64% YoY.
Consolidated adjusted EBITDA increased 28% YoY and 63% QoQ to ₹364 crore. Business-to-consumer NOV (net order value) grew 55% YoY and 11% QoQ to ₹25,732 crore, crossing ₹1 lakh crore annualised, said the company.
2. Food delivery business
The company said its food delivery NOV growth recovery continued with NOV in Q3FY26 growing 16.6% YoY and 4.5% QoQ.
"This was the second consecutive quarter of NOV growth acceleration following the bottom of 13.1% NOV growth in Q1FY26," said the company.
The GOV (gross order value) growth was 21.3% YoY and 5.2% QoQ.
The segment's adjusted EBITDA margin (as a percentage of NOV) reached an all-time high of 5.4% and the business delivered an absolute adjusted EBITDA of ₹531 crore for the quarter, rising 26% YoY and 6% QoQ, said the company.
3. Quick commerce margin in green
Eternal said its quick commerce NOV growth remained robust at 121% YoY and 14% QoQ despite GST changes and seasonality.
"Like-for-like NOV growth stood at 130%+ YoY. As many as 211 net new stores were added in the quarter, taking the total store count to 2,027 stores as at the end of the quarter (about 70 stores short of our guidance of 2,100 stores)," said the company.
"Adjusted EBITDA margin (as a percentage of NOV) turned positive for the first time on a quarterly basis with ₹4 crore adjusted EBITDA profit, improving significantly from a loss of ₹156 crore in the previous quarter," the company said.
4. Going-out vertical's margin drops
According to the company, the "Going-out" vertical's NOV grew 20% YoY, whereas adjusted EBITDA margin (as a percentage of NOV) declined to 4.7% resulting in an adjusted EBITDA loss of ₹121 crore in the quarter compared to ₹63 crore in Q2FY26, driven by continued investments in category creation.
5. Hyperpure margin turns positive
Hyperpure, business-to-business (B2B) restaurant supply platform of Eternal, grew at 33% YoY and 7% QoQ with total adjusted EBITDA margin turning positive for the first time, resulting in an adjusted EBITDA profit of ₹1 crore compared to a loss of ₹5 crore in the previous quarter, said the company.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
