Eternal Q4 profit ₹174 cr beats estimates in FY26 quarter

Key takeaway for investors

Eternal Ltd (formerly Zomato Ltd) reported a sharp improvement in profitability for the March 2026 quarter, with consolidated net profit rising to ₹174 crore. The result came in well ahead of Street expectations, with a Reuters-LSEG poll pegging quarterly profit at ₹121 crore. The company’s update also pointed to continued momentum in Blinkit, its quick-commerce unit, alongside steady expansion in its core food delivery business under Zomato. Markets reacted quickly, with the stock erasing intraday losses and moving into positive territory.

What Eternal reported for Q4 FY26

For Q4 FY26, Eternal reported consolidated net profit of ₹174 crore. The company also disclosed that profit grew 71% quarter-on-quarter from ₹102 crore in Q3 FY26. On a year-on-year basis, net profit increased from ₹39 crore in the year-ago quarter to ₹174 crore, described in the report as a 4.5x rise and 346% YoY growth.

On the income line, revenue from operations increased to ₹17,292 crore for the quarter. The report described operating revenue as up 196% year-on-year and up 6% quarter-on-quarter. Including other income of ₹342 crore, total income for the quarter stood at ₹17,634 crore.

Profit beat estimates, revenue lagged some forecasts

Analyst expectations cited in the report suggested a wide gap between actual profitability and consensus. The Reuters-LSEG poll referenced in the report had estimated net profit of ₹121 crore, versus the reported ₹174 crore. Another expectation level mentioned for profit was ₹160 crore.

On revenue, the report noted that the company did not meet certain revenue estimates. It cited a revenue estimate of ₹17,534 crore against actual revenue from operations of ₹17,292 crore. It also said the company “couldn’t reach up to revenue estimates of ₹18,000 crore.”

Blinkit and food delivery cited as the main drivers

The stronger-than-expected profit was attributed to sustained growth in Blinkit and continued expansion in the core food delivery business, including Zomato. The report did not provide segment-level numbers, but the narrative linked earnings strength to quick-commerce scale-up alongside stable growth in food delivery.

This framing matters because Eternal’s investor story has increasingly depended on how quickly Blinkit can grow while keeping profitability trends intact, especially as expenses rise alongside expansion.

Costs, total income, and operating metrics in focus

Alongside profit and revenue, the company disclosed higher spending in the quarter. Total expenses rose 185% year-on-year to ₹17,406 crore. With other income of ₹342 crore, total income was ₹17,634 crore, helping support the bottom line even as costs remained elevated.

The report also referenced operating performance indicators: operating profit increased to ₹486 crore from ₹368 crore, and margin improved to 2.8% from 2.3% (YoY), as stated in the provided figures. These operating details were discussed in the context of assessing whether the quarter’s profit beat was supported by underlying margins.

Stock reaction: intraday recovery after results

Eternal’s shares turned positive after the earnings update, according to the report. The stock erased all intraday losses and swung into green. It recovered as much as 5.5% from the day’s low, trading 1.1% higher at ₹258.4 in late afternoon trade.

The report also cited a BSE print where the stock rose 1.51% to ₹259.45, compared with the previous close of ₹255.60. Together, these data points indicate that the market treated the profit beat as material enough to reverse the day’s earlier weakness.

Snapshot of reported numbers and key estimates

Why the quarter stands out

The quarter stands out primarily for the scale of the profit beat relative to consensus expectations and for the stock’s quick intraday recovery. A profit outcome of ₹174 crore against a Reuters-LSEG estimate of ₹121 crore is a meaningful gap in a market that often prices consumer internet names on delivery versus expectations.

At the same time, the report flagged that revenue from operations, at ₹17,292 crore, came in below some forecasts cited in the coverage. That split outcome is important for how investors interpret the print: profits exceeded expectations, while top-line performance was described as slightly short of certain estimates.

What to watch next

The report indicated that analysts would “deep dive” into the finer details of Q4, suggesting further scrutiny of revenue quality, expense trends, and margins. With total expenses at ₹17,406 crore and total income at ₹17,634 crore, investors are likely to watch how Eternal balances growth in Blinkit and food delivery with cost growth in coming quarters.

For now, the quarter has delivered a clear headline: Eternal’s Q4 FY26 net profit rose to ₹174 crore, up 71% QoQ, and the stock recovered from intraday losses after the earnings announcement.