Home / Business and Economy / Eternal Ltd. Doubles Profit Despite Miss
Eternal Ltd. Doubles Profit Despite Miss
21 Jan
Summary
- Net profit nearly doubled to Rs 102 crore in Q3 FY24.
- Revenue reached Rs 16,315 crore, surpassing estimates.
- Ebitda saw significant growth to Rs 368 crore.
Eternal Ltd., the parent company of Zomato, announced a substantial increase in its net profit for the third quarter of the current financial year. The consolidated net profit surged to Rs 102 crore during the October-December period, nearly doubling from Rs 59 crore in the same quarter last year.
Despite the impressive profit growth, the company's performance narrowly missed the consensus estimates projected by analysts, which stood at Rs 115 crore. Revenue for the quarter reached Rs 16,315 crore, exceeding the Rs 5405 crore reported previously and surpassing Bloomberg's estimate of Rs 16,224 crore.
EBITDA also demonstrated robust growth, climbing to Rs 368 crore from Rs 162 crore in the prior year, outperforming the estimated Rs 333 crore. However, the profit margin slightly contracted to 2.3% from 3% year-on-year, though it exceeded the estimated 2.1%.
