Eternal (formerly Zomato) has reported a substantial financial upturn for the first quarter, with its net profit surging by an impressive 268% to ₹92 crore. This marks a significant leap from the ₹25 crore recorded in the same period last year.
The company's revenue also experienced robust growth, climbing 182% to ₹20,211 crore for the quarter, compared to ₹7,167 crore in the prior year. Furthermore, profit before tax saw an even more dramatic increase of 2095%, reaching ₹272 crore.
Despite Strong Earnings, Shares Remain Flat
Despite these strong earnings figures, Eternal's shares remained largely unchanged in trading. The stock was observed at ₹289.50, a marginal increase from its previous close of ₹286.70. The company's market capitalization stood at ₹2.79 lakh crore.
The market's muted reaction to the positive financial results suggests that investors may have already factored in expectations or are exercising caution. However, the dramatic improvement in profitability and revenue indicates a strong operational performance for the quarter.