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Eternal's shares climb 7.55% despite Q1 profit plummeting 90%, driven by Blinkit's growth.
Eternal, formerly Zomato, saw its shares rise 7.55% despite a 90% drop in Q1 net profit to Rs 25 crore, due to a 70.4% revenue jump to Rs 7,167 crore.
The surge is attributed to Blinkit's quick commerce NOV surpassing food delivery NOV for the first time, with Blinkit adding 243 new stores.
Adjusted EBITDA fell 42% to Rs 172 crore due to investments in quick commerce and going-out segments.
The company's CEO predicts food delivery growth will bottom out but sees potential for a 20% YoY increase by FY27.
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Las acciones de Eternal suben un 7,55% a pesar de que las ganancias del primer trimestre se desplomaron un 90%, impulsadas por el crecimiento de Blinkit.