Eternal shares decline 4% after Q2 earnings; key takeaways from CEO Deepinder Goyal’s letter to shareholders

(formerly Zomato) shares dropped nearly 4% following the release of its Q2 results, which reflected a significant fall in profit. In a letter to shareholders, CEO Deepinder Goyal discussed a steady recovery in growth, strong momentum in quick commerce, enhanced operating margins, and sustained investments in Blinkit, Hyperpure, and District despite soft discretionary demand. Shares of the food delivery firm Eternal (formerly Zomato) slipped as much as 3.9% to close at ₹340.5 per share on the NSE on Thursday after reporting a 63% year-on-year decline in consolidated Q2 net profit to ₹65 crore, compared to ₹176 crore in the same quarter last year. Key highlights from the shareholder letter: NOV (New Order Value) rose 14% YoY, slightly higher than the 13% YoY growth in the previous quarter. The company noted that growth appears to have bottomed out in Q1 FY26 and is gradually recovering. Management anticipates only a modest rebound in the near term due to ongoing challenges such as subdued discretionary demand, intensifying quick commerce competition, and unfavorable weather conditions. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.