Food-tech giant Zomato officially changed its name to Eternal after approval from the board. The company began using “Eternal” internally after acquiring Blinkit to distinguish between the company and the app. Co-founder Deependra Goyal explained the shift, stating that the new name signifies a broader future driven by entities like Blinkit. The group CEO confirmed the renaming of Zomato Ltd. to Eternal Ltd. for the company (not the app/brand).
The Zomato app, now known as Eternal, will maintain its current name. Its stock ticker has been changed to Eternal. Eternal will now encompass Zomato, Blinkit, District, and Hyperpure. These units showcase the company’s expansion into food delivery, quick service commerce, dining, and supply chain. In Q3, the company’s net profit dropped by 57% year-on-year to Rs 59 crore, down from Rs 176 crore in the previous fiscal year.
In the latest quarterly earnings disclosed on January 20, the company’s revenue spiked by 64% to Rs 5,404 crore. Expenses surged to Rs 5,533 crore. In a shareholder letter on the same date, the company outlined plans to launch 1,000 new Blinkit stores by year-end. This was part of an update on progress and expansion plans, presented alongside Q3 financial results ending on December 31, 2024.
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