The net profit of Eternal (formerly Zomato), a company that delivers food and everyday items on online orders, declined by 77.7 percent to Rs 39 crore in the fourth quarter of the last financial year. In the same quarter a year ago, the company’s net was Rs 175 crore. There has been a decline of 33.8 percent in the company’s profit as compared to Rs 59 crore a quarter ago. However, during the quarter under review, the company’s income increased by 63.7 percent to Rs 5,833 crore as compared to a year ago. The company’s income in the fourth quarter of FY 2024 was Rs 3,562 crore.
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During the period under review, the adjusted revenue of online food delivery business Zomato increased by 17 per cent to Rs 2,413 crore from Rs 2,050 crore a year ago. But compared to a quarter ago, income declined by 0.2 percent. At the same time, in the fourth quarter of the last financial year, the revenue of the company’s quick commerce business Blinkit was Rs 1,709 crore, which is 12.2 percent more than Rs 769 crore in the fourth quarter a year ago.
The revenue of Eternal’s outgoing business increased by 146.2 percent in the fourth quarter of the last financial year. It jumped from Rs 93 crore in Q4 FY2024 to Rs 229 crore in Q4 FY2025.
Quick and Everyday service closed
Online food delivery service Eternal (formerly Zomato) said it has shut down its instant food-delivery service ‘Quik’ due to lack of profits. This service was available on Zomato’s application. Additionally, while releasing its financial results for the fourth quarter of the last fiscal year on Thursday, the company said that it has delisted nearly 19,000 restaurants in the fourth quarter alone.
Deepinder Goyal, Founder and CEO, Eternal, said, ‘We are actually closing both these initiatives (Zomato Quick and Everyday) because we do not see a path to profitability without compromising the customer experience. Currently, the restaurant and kitchen infrastructure is not ready to serve orders within 10 minutes, resulting in a lack of service to customers. As a result, we did not see any significant increase in demand while we ran Quick on an experimental basis for a few months. For Zomato Everyday, Goyal said that the need for home-cooked food is huge and this is especially true for offices located in metros. Is for.
Goyal said that running it on a small scale did not give us adequate returns on investment. He said the restaurants that were removed from the list were either not meeting hygiene standards, or were copying established brands and misleading customers.
First Published – May 1, 2025 | 9:53 PM IST
