🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

🔥 3 people are talking about this

Eternal’s Food Delivery COO Rinshul Chandra resigns

EntrackrEntrackr · 3m ago
Eternal’s Food Delivery COO Rinshul Chandra resigns
Medial

Eternal’s Food Delivery COO Rinshul Chandra resigns Eternal Limited (Zomato) has announced the resignation of Rinshul Chandra, Chief Operating Officer of its Food Ordering and Delivery business. Chandra, a key member of the company’s senior management, tendered his resignation on April 5 and will officially step down on April 7. According to the company’s filing with stock exchanges, Chandra is stepping down to pursue new opportunities and passions aligned with his evolving personal and professional goals​. Chandra joined Zomato (now Eternal) in 2018 as Assistant Vice President of Product and steadily rose through the ranks, serving as Vice President, Head of Business, and eventually taking on the role of Chief Operating Officer for the food delivery segment. Eternal Limited has not yet announced a replacement for Chandra. The development comes shortly after mass layoffs at Zomato. According to media reports, the company let go of around 600 customer support associates within a year of hiring them. Over the past year, Zomato has seen several key departures. Hemal Jain, who served as Global Head of Finance and CFO of Hyperpure, stepped down. Akriti Chopra, the company’s co-founder and Chief People Officer, also left. In October last year, Gunjan Soni resigned from her position as an Independent Director. Zomato recently rebranded itself to Eternal, which will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure.

2

Related News

Eternal bets big on Blinkit as food delivery biz shows signs of slowdown

EntrackrEntrackr · 3d ago
Eternal bets big on Blinkit as food delivery biz shows signs of slowdown
Medial

Eternal bets big on Blinkit as food delivery biz shows signs of slowdown Eternal Ltd. (formerly Zomato) posted a strong Q1 FY26 with revenue surging 70% year-on-year to Rs 7,167 crore. However, growth in its core food delivery business appears to be flattening, with momentum now coming from newer verticals such as Blinkit and Hyperpure. The food delivery segment, once synonymous with Zomato, is beginning to show signs of maturity. Revenue from food grew just 16% year-on-year to Rs 2,261 crore, while Net Order Value (NOV) rose 13%, a slight dip from 14% in the previous quarter. Eternal’s chief executive officer (CEO) Deepinder Goyal acknowledged that “20%+ growth looks unlikely this year,” hinting that the post-COVID boom in food delivery may be tapering off as the business enters a slower growth phase. In contrast, quick commerce is rewriting Eternal’s growth story. Blinkit clocked a 127% YoY jump in NOV and a 154% spike in revenue to Rs 2,400 crore, overtaking food delivery for the first time on a full-quarter basis. The 10-minute delivery app now has 1,544 stores (243 added in Q1 alone) and plans to cross 2,000 by December. So, is India’s food delivery market reaching a saturation point? Goyal doesn’t explicitly say so, but signals are clear: while margins in food delivery are stable (5% of NOV), growth is slowing, and further upside is likely to come from operational efficiencies or adjacent offerings, not explosive user demand. Meanwhile, Blinkit is scaling rapidly, not just in metros, but even in smaller cities where profitability gaps are narrowing. “Margins seem to have bottomed out,” said Blinkit CEO Albinder Dhindsa, adding that select cities are already profitable. The business now has a strong line of sight to 5–6% margin in the long term, according to him. Interestingly, Eternal is now extending its “10-minute promise” to meals with its initiative called Bistro. The service currently runs 38 cloud kitchens across Delhi-NCR and Bengaluru, offering ‘high-quality yet affordable food’ in just 10 minutes. The company sees Bistro as a way to tap into unmet demand, particularly among users seeking low-cost, quick meals or snacky options, a segment it believes traditional food delivery players haven't fully addressed. Hyperpure, Eternal’s B2B restaurant supply business, also had a standout quarter with 89% YoY revenue growth. However, this growth may soften in upcoming quarters as Blinkit transitions from a marketplace to an inventory-led model, reducing Hyperpure’s exposure to non-restaurant clients. To navigate this shift, Eternal is also evolving its leadership structure. With the appointment of product leader Aditya Mangla as food delivery CEO, the company is doubling down on tech-first execution. Goyal calls this “rotational leadership”, a system meant to keep decision-making fresh and avoid long-term stagnation at the top. As Goyal puts it, “We want to build companies led by principles, not personalities.” The principle now seems clear: grow where the consumer moves fastest, and that’s not always dinner delivery. While churn has become a perennial feature at Eternal, both in terms of initiatives and even people, the firm continues to be valued (ridiculously so, many would say) highly for potential upsides on its other initiatives like District etc. However, the grocery business as the growth driver comes with its own challenges on the margin front, as seen in the profit shrinkage this quarter. Patient investors might also feel tested if they don't see either of two things in FY26: profitability in the delivery and grocery business, however low the margins, and a breakout in any of the remaining verticals like seen in Hyperpure.

Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%

EntrackrEntrackr · 4d ago
Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%
Medial

Fintrackr All Stories Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90% Eternal released its financial results for the first quarter of FY26 on Monday. The Gurugram-based company reported a 90% fall in profit for the quarter ending June 2025. Eternal’s revenue from operations grew 70% to Rs 7,167 crore in Q1 FY26 in contrast to Rs 4,206 crore in Q1 FY25, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). Eternal operates several business units, including a food marketplace, Hyperpure, and a quick commerce platform, BlinkIt. Income from Eternal’s food delivery business contributed 31% of the total revenue in Q1 FY26, growing 16% to Rs 2,261 crore from Rs 1,942 crore in Q1 FY25. Revenue from Hyperpure (B2B supplies) and the quick commerce segment (Blinkit) saw significant growth, rising 89% to Rs 2,295 crore and 155% to Rs 2,400 crore, respectively, during the first quarter of FY26. Earnings from the 'Going-out' segment and other non-operating income brought the Eternal Group’s total revenue to Rs 7,521 crore in Q1 FY26. On the cost side, Delivery and related charges accounted for 25% of Eternal's total expenditure, at Rs 1,869 crore in Q1 FY26. Employee benefit cost rose 57% to Rs 830 crore while spending on advertising and marketing increased by 69% to Rs 671 crore in Q1 FY26. Overall, the company’s overall expenditure increased by 77% to Rs 7,433 crore in Q1 FY26, up from Rs 4,203 crore in Q1 FY25. The 70% surge in advertising led the company's profit to fall by 90% to Rs 25 crore in Q1 FY26 from Rs 253 crore in Q1 FY25. On a per-unit basis, the Gurugram-based company spent Rs 1.04 to earn every rupee of revenue during the quarter ending March 2025. At 15:37 on Monday (July 21), Eternal’s shares were priced at Rs 274, giving the foodtech platform a market capitalization of Rs 2,64,564 crore (approximately $31.2 billion).

Nazara Technologies' COO Sudhir Kamath resigns

EntrackrEntrackr · 4m ago
Nazara Technologies' COO Sudhir Kamath resigns
Medial

Nazara Technologies' COO Sudhir Kamath resigns According to the company’s statement, Kamath has decided to resign to relocate to his native city and spend more time with his family. Nazara Technologies Limited has announced the resignation of its Chief Operating Officer (COO), Sudhir Kamath, who will step down from his role effective April 1, 2025. The company disclosed this development in an official filing with BSE Limited and the National Stock Exchange of India Limited (NSE). In his resignation letter addressed to Nazara Technologies’ Managing Director, Nitish Mittersain, Kamath expressed gratitude for his tenure at the company, highlighting his experiences working with the leadership team and subsidiaries. Before joining Nazara in October 2022, Kamath co-founded 9stacks and led it as CEO for over five years. Following Kamath’s resignation, Nazara is expected to announce his successor in due course. Meanwhile, Nazara’s operating revenue rose by 67% to Rs 535 crore in Q3 FY25 from Rs 320 crore in Q3 FY24. However, despite the increased scale, the company’s profit declined by 53.6% year-on-year to Rs 13.7 crore in Q3 FY25 from Rs 29.5 crore in Q3 FY24.

Zomato’s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%

EntrackrEntrackr · 2m ago
Zomato’s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%
Medial

Zomato’s parent Eternal revenue grows 64% in Q4 FY25, PAT drops 78%. Zomato’s revenue from operations grew 64% to Rs 5,833 crore in Q4 FY25 in contrast to Rs 3,562 crore in Q4 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). Despite strong revenue growth following steady expansion, the Gurugram-based company reported a sharp 78% decline in profit for the quarter ending March 2025. Eternal’s revenue from operations grew 64% to Rs 5,833 crore in Q4 FY25 in contrast to Rs 3,562 crore in Q4 FY24. With this, Eternal’s overall revenue for the fiscal year ending March 2025 jumped 67% to Rs 20,243 crore from Rs 12,114 crore in FY24. Eternal operates several business units, including a food marketplace, Hyperpure, and quick commerce platform BlinkIt. Income from Eternal’s food delivery business contributed 35% of the total revenue in Q4 FY25, growing 18% to Rs 2,054 crore from Rs 1,739 crore in Q4 FY24. Revenue from Hyperpure (B2B supplies) and the quick commerce segment (Blinkit) saw significant growth, rising 93% to Rs 1,840 crore and 122% to Rs 1,709 crore, respectively, during the last quarter of FY25. Earnings from the 'Going-out' segment and other non-operating income brought the Eternal Group’s total revenue to Rs 6,201 crore in Q4 FY25. Delivery and related charges accounted for 25% of Eternal's total expenditure, at Rs 1,552 crore in Q4 FY25. Employee benefit cost rose 89% to Rs 1632 crore, while spending on advertising and marketing increased by 63% to Rs 634 crore in FY24. Overall, the company’s overall expenditure increased by 68% to Rs 6,104 crore in Q4 FY25, up from Rs 3,636 crore in Q3 FY25. An increase in current tax expenses to Rs 74 crore led to a 78% drop in the company’s profit after tax, which fell to Rs 39 crore in Q4 FY25 from Rs 175 crore in Q4 FY24. On a per-unit basis, the Gurugram-based company spent Rs 1.04 to earn every rupee of revenue during the quarter ending March 2025.

Download the medial app to read full posts, comements and news.