Eternal earnings: Zomato’s summer blues and Blinkit’s imminent evolution

Eternal, better known by its food delivery platform Zomato, kicked off earnings season for India’s new-age tech companies with yet another tepid show in its core food delivery business. Overall, Eternal reported a 78% year-on-year drop in net profit to Rs 39 crore in the last quarter of the year ended March 2025, even as its operating revenue jumped 64% to Rs 5,833 crore. 

The company has introduced a new metric in addition to gross order value, or GOV. Called net order value, or NOV, it takes into consideration the discounts provided for all of Eternal’s consumer-facing businesses. 

Eternal’s GOV in its core food delivery business fell 1%, quarter-on-quarter, growing just 16% over the same quarter in the previous fiscal, well below its long-term guidance of over 20% growth in GOV. In its shareholder note, the company said it was shuttering Zomato Quick, its 15-minute food delivery service, as well as its affordable food offering, Everyday.