This morning, Zomato shares dropped sharply at the open due to the block deal, making it the biggest loser in the BSE Sensex 30-share pack. Reports say that 30.8 lakh shares changed hands in this block deal.
However, the shares quickly rebounded from a low of Rs 220.05 (down nearly 5.5% from the previous close of Rs 232.52 on NSE) to trade 1% higher at Rs 235 by 9:30 AM. In the first 15 minutes of trading, 2.60 crore shares were exchanged.
On Thursday, Zomato announced a consolidated net profit of Rs 39 crore for Q4 FY2025, down from Rs 175 crore in the same quarter last year due to one-time gains.
The company’s revenue from operations reached Rs 5,833 crore, compared to Rs 3,562 crore in the same quarter a year ago. The revenue comes from various segments, including food ordering and delivery, B2B supplies, quick commerce, dining out, and other segments.
Total expenses for the company were Rs 6,104 crore.
Brokerages have started to recommend buying Eternal shares after the quarterly results. Nuvama noted that the company’s numbers were in line with expectations for Q4 FY2025. They pointed out that new stores are not yet fully utilized and currently have low profitability.
Nuvama also mentioned that competition will likely increase as others enter the market. They set a target price of Rs 290, which is Rs 10 lower than the previous target of Rs 300.
Elara Capital has also maintained a BUY rating on Eternal shares, keeping the target price unchanged at Rs 300. They expect Blinkit to continue leading in user growth and believe that Eternal will remain a market leader in both food delivery and quick commerce.