ETERNAL LIMITED Q3FY26: Consolidated Revenue at ₹16,692 Cr, EBITDA ₹364 Cr
ETERNAL LIMITED reported Q3FY26 consolidated Adjusted Revenue of ₹16,692 crore (up 190% YoY) and Adjusted EBITDA of ₹364 crore (up 28% YoY). Food delivery NOV grew 16.6% YoY, with an all-time high EBITDA margin of 5.4%. Quick commerce achieved its first profit of ₹4 crore. The company ended the quarter with a cash balance of ₹17,820 crore.
The Q3FY26 results show significant financial growth and profitability improvements in key segments, which are material to the company's performance and investor outlook.
The company has shown strong YoY and QoQ growth in revenue and EBITDA, with key segments like quick commerce turning profitable. The overall financial performance and strategic progress are positive.
ETERNAL LIMITED (formerly Zomato Limited) announced its financial results for the third quarter and nine months ended December 31, 2025 (Q3FY26). The company reported a consolidated Adjusted Revenue of ₹16,692 crore, a significant year-on-year (YoY) growth of 190% and a 19% growth quarter-on-quarter (QoQ). This strong growth is attributed to a shift in accounting to inventory ownership in quick commerce from Q1FY26, which now includes the full monetary value of goods sold.
Consolidated Adjusted EBITDA for the quarter increased by 28% YoY to ₹364 crore, a substantial 63% increase QoQ from ₹224 crore in Q2FY26. The food delivery business saw its Net Order Value (NOV) grow by 16.6% YoY, with Adjusted EBITDA margin reaching an all-time high of 5.4% and an absolute profit of ₹531 crore. The quick commerce segment demonstrated robust growth with NOV increasing by 121% YoY, and notably, achieved its first-ever quarterly Adjusted EBITDA profit of ₹4 crore, a significant improvement from a loss of ₹156 crore in the previous quarter.
The Going-out segment's NOV grew by 20% YoY, though its Adjusted EBITDA margin declined to -4.7%, resulting in a loss of ₹121 crore due to ongoing investments. Hyperpure, the restaurant supply business, continued its steady growth of 33% YoY and also turned profitable with an Adjusted EBITDA of ₹1 crore.
The company's cash balance stood at ₹17,820 crore as of December 31, 2025. Management expressed confidence in achieving long-term margin expansion to 5-6% of NOV, with mature cities already operating close to this target.
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