Eternal Q4 Net Profit Surges 71% Quarter-on-Quarter to Rs 174 Crore, Exceeds Expectations
Eternal Ltd Surpasses Expectations with 71 Percent Quarter-on-Quarter Net Profit Growth
Eternal Ltd's fiscal fourth-quarter consolidated net profit skyrocketed to Rs 174 crore, a 71 percent increase from the previous quarter. This impressive growth far exceeded the expectations of analysts, who had predicted a net profit of Rs 121 crore, according to a Reuters-LSEG poll.
The strong performance can be attributed to the continued growth of Eternal Ltd's quick-commerce unit, Blinkit, as well as the steady expansion of its core food delivery business, including Zomato. These factors combined to drive the company's earnings to new heights.
The stock market reacted positively to the earnings report, with Eternal Ltd's stock erasing all intraday losses and swinging into the green. The stock recovered as much as 5.5 percent from its day's low, and was trading 1.1 percent higher at Rs 258.4 in late afternoon trade.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
| Company | Q4 Net Profit (Rs crore) |
|---|---|
| Predicted | 121 |
| Actual | 174 |
| Growth | 71% |
Note: The table above provides a comparison of the predicted and actual net profit for Eternal Ltd's fiscal fourth quarter.
Investor Takeaway
Investors should consider the stock's positive reaction to the earnings, indicating a potential upside.
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