Zomato Q2 Results Preview: What to Expect from Eternal Ltd.’s September Quarter Earnings
Eternal Ltd., formerly known as Zomato, will report its results for the second quarter of financial year 2026 on Thursday. Brokerages remain upbeat on Eternal Ltd. ahead of its September quarter results, citing sustained strength in both food delivery and quick commerce.
Brokerage Expectations
Most expect the company to post mid-to-high teens growth in food delivery GOV and over 130–140% year-on-year growth in Blinkit’s GOV, driven by continued store expansion, festive demand, and rising user acquisition. Zomato share price is likely to be impacted by the Q2 results.
Revenue and Profit Expectations
Revenue is seen 21% higher at 8,665 crore versus Rs 7,170 crore, while profit is expected to jump over fourfold to Rs 108 crore from Rs 25 crore. Ebitda is seen 105% higher at Rs 236 crore versus Rs 115 crore, with a margin of 2.73% versus 1.6%.
Growth Momentum in Blinkit
Growth momentum in Blinkit remains strong, with rising app traffic, expansion of dark stores, and entry into new cities driving market leadership. Investing in the stock market requires a thorough understanding of the company’s financials and growth prospects.
Citi’s Expectations
Citi expects Blinkit’s gross order value to grow about 140% year over year in Q2 FY26, aided by festive demand and strong user acquisition. Food delivery growth is estimated at 18% year-over-year, with margins slightly lower at 4.1% of GOV.
Kotak’s Expectations
Kotak believes Eternal is likely to post a 16% year-on-year rise in food delivery GMV and a 136% year-on-year jump in Blinkit GMV. Ebitda margin is expected to remain flat at 4.2% of GOV, with a 20 bps QoQ rise in contribution margin to 8.4% due to higher platform fees.
Nuvama’s Expectations
Nuvama expects Eternal, along with other internet companies like Nykaa and Info Edge, to deliver healthy growth and margin improvement in Q2FY26. Eternal’s food delivery GOV is expected to grow 5% quarter-on-quarter and 17% year-on-year, with a 20 basis point expansion in contribution margin to 8.4% and a flat Ebitda margin at 4.2%.
JPMorgan’s Expectations
JPMorgan remains overweight on Eternal, ranking it highest in its internet coverage pecking order. Eternal is expected to see 15.6% year-on-year growth in food delivery GOV, with margins remaining stable quarter-on-quarter. Quick commerce GOV is likely to grow 144% year-on-year, supported by strong momentum and continued expansion.
Conclusion
In conclusion, Eternal Ltd.’s Q2 results are expected to be strong, driven by sustained growth in food delivery and quick commerce. Stock market news and updates can be found on our website. Investors should keep an eye on the company’s margin expansion and growth prospects.