Blinkit powers Eternal’s topline

Eternal’s quick commerce arm Blinkit, for the first time, outpaced the food delivery business Zomato in net order value (NOV) in the April-June quarter, even as higher investments into the segment dragged down the company’s consolidated net profit by 90% year-on-year to Rs 25 crore, sharply below Bloomberg estimates of Rs 107 crore.

Despite the profit miss, Eternal’s shares rallied 7.5% after the announcement of the results, to finally close up 5.38% at Rs 271.20 on the BSE.