Eternal (Zomato) stock rises 2%, top Nifty gainer after brokerages back growth outlook despite Q1 profit miss- Grow Mudra

Eternal (Zomato) stock rises 2%, top Nifty gainer after brokerages back growth outlook despite Q1 profit miss

23 Jul , 2026 By : Debdeep Gupta

Shares of Eternal Ltd, the parent company of Zomato, climbed 2 percent in early trade on Thursday to Rs 290.10, emerging as the top gainer on the Nifty 50, as investors cheered bullish brokerage commentary following the company's June quarter results. The gains came despite a weak broader market, with the Sensex falling 361.35 points, or 0.47 percent, to 76,393.70 and the Nifty declining 102.00 points, or 0.43 percent, to 23,894.25 at 09:17 IST.

Brokerages largely looked beyond Eternal's (Zomato) weaker-than-expected quarterly profit, highlighting strong execution across its food delivery and quick commerce businesses, improving Blinkit profitability, and management's confidence that competitive intensity remains manageable.

Eternal reported consolidated net profit of Rs 92 crore for the first quarter of FY27, missing the CNBC-TV18 poll estimate of Rs 335 crore. Profit declined 47 percent sequentially from Rs 174 crore in the previous quarter, although it more than tripled from Rs 25 crore a year earlier.

Consolidated revenue came in at Rs 20,211 crore, ahead of the CNBC-TV18 poll estimate of Rs 19,850 crore. Revenue rose 17 percent sequentially from Rs 17,292 crore and more than doubled from Rs 7,167 crore in the corresponding quarter last year. EBITDA increased 22 percent quarter-on-quarter to Rs 594 crore, while EBITDA margin improved marginally to 2.9 percent from 2.8 percent.

Brokerages broadly remained constructive on the stock, citing continued strength in both food delivery and quick commerce. They highlighted Blinkit's accelerating growth, improving profitability and disciplined execution, alongside healthy momentum in the core food delivery business.

Analysts also said competitive intensity in quick commerce appears to be stabilising, with management expressing confidence that the current competitive environment is manageable. Several brokerages expect Blinkit's margins to improve further over the medium term following the increase in its long-term EBITDA margin target.