How will Eternal perform in Q1FY26? Check estimates, date, and time

Zomato, now known as Eternal, will release its Q1 results next week; here's what to expect

Eternal Q1 results preview: Food delivery platform Eternal, formerly known as Zomato, is all set to release its first quarter (Q1FY26) results on Monday, July 21, 2025.

Eternal Q1 results preview: Profit estimates 

Brokerages tracked by Business Standard estimate the Q1 net profit of Eternal to decline 79 per cent year-on-year (Y-o-Y), on average, to ₹52.85 crore as compared to ₹253 crore in Q4FY25. However, on a quarter-on-quarter (Q-o-Q) basis, the net profit is forecasted to rise 35.51 per cent from ₹39 crore in Q4FY25. 

Eternal Q1FY26 results preview: Revenue estimates

The revenue is expected to increase 60 per cent Y-o-Y to ₹6,744.1 crore as compared to ₹4,206 crore. On a sequential basis, the revenue is anticipated to grow around 16 per cent from ₹5,833 crore in Q4.  ALSO READ | RIL Q1 Preview: Profit to see strong YoY growth led by retail, Jio, and O2C

 

Here's how brokerages expect Eternal to fare in Q1FY26:

ICICI Securities: The brokerage estimates Eternal's food delivery gross order value (GOV) to grow 10.8 per cent Q-o-Q/17 per cent Y-o-Y, with adjusted Earnings before interest, tax, depreciation and amortisation (Ebitda) at ₹460 crore and adjusted Ebitda margin (percentage of GOV) of 4.2 per cent. 

 

Blinkit, the grocery delivery arm of Eternal, is likely to post GOV growth of 25.6 per cent/140.3 per cent Q-o-Q/Y-o-Y, with adjusted Ebitda loss at ₹150 crore and adjusted Ebitda margin (percentage of GOV) at -1.2 per cent Y-o-Y.

 

Additionally, Hyperpure’s, Eternal's end-to-end restaurant solution,  adjusted revenue is estimated to grow by 8 per cent/64 per cent Q-o-Q/Y-o-Y. 

 

Overall, adjusted revenue growth is expected at 14.4 per cent /56.7 per cent Q-o-Q/Y-o-Y. The brokerage has pegged the adjusted revenue at ₹7,081.2 crore as compared to ₹4,206 crore a year ago and ₹5,833 crore in Q4FY25. 

 

Adjusted Ebitda is anticipated at ₹201 crore in Q1FY26 compared to ₹177 crore/₹300 crore in Q4FY25/Q1FY25. Consolidated PAT is pegged at ₹27.7 crore in Q1.  

Kotak Institutional Equities: The brokerage expects Q1FY26 revenue growth to come in at 59 per cent Y-o-Y, driven by 18 per cent Y-o-Y growth in food delivery revenues (18 per cent Y-o-Y growth in GMV), 75 per cent Y-o-Y growth in Hyperpure revenues, and 113 per cent Y-o-Y growth in Blinkit revenues (124 per cent Y-o-Y growth in GMV). 

 

Overall, revenue is expected at ₹6,682.2 crore as compared to ₹4,206 crore a year ago. 

 

Ebitda loss of ₹180 crore for the Blinkit business is anticipated, flat Q-o-Q. A 10 bps sequential improvement in the contribution margin is likely to be driven by lower competitive intensity. 

 

Consolidated Ebitda will still decline Y-o-Y to ₹130.2 crore from ₹177 crore on account of higher losses in Blinkit and going out businesses.  ALSO READ | HDFC Bank to announce Q1 results, bonus share, dividend on July 19 

JM Financial Institutional Securities: Analysts at the brokerage expect the Eternal's food delivery business GOV to grow 9 per cent/15 per cent Q-o-Q/Y-o-Y. They expect take-rates to remain flat at 21.1 per cent in Q1FY26 and contribution margin (as percentage of GOV) to contract to 8.4 per cent from 8.6 per cent in Q4, while adjusted Ebitda margin (as percentage of GOV) to expand 10 bps sequentially to 4.5 per cent, aided by operating leverage.

 

In Blinkit, JM Financial expects sequential GOV growth of 20 per cent, led by a robust increase of 16 per cent in order volumes that in turn should be driven by MTU increase to 16 million from 13.7 million. However, take-rates are likely to remain flat Q-o-Q at 18.1 per cent in Q1 and therefore build 20 per cent Q-o-Q revenue growth as well. 

 

The contribution margin is projected to expand to 3.3 per cent (as a percentage of GOV) as compared to 3.1 per cent in Q4, due to higher average order value (AOV), and benign competitive intensity in the space in Q1. 

 

Adjusted Ebitda margin (as a percentage of GOV) is likely to expand around 50 bps sequentially to -1.4 per cent due to contribution margin expansion as well as operating leverage. 

 

Nuvama Institutional Equities: Analyst at brokerage estimates 13.1 per cent Q-o-Q/56.8 per cent Y-o-Y revenue growth to ₹6,596.2 crore for consolidated business in Q1FY26. Food delivery revenue is anticipated to grow by 10.4 per cent Q-o-Q/16.8 per cent Y-o-Y, driven by volume growth. Consolidated Ebitda is pegged at ₹165.5 crore as compared to ₹177 crore a year ago.