Eternal shares fall 3.5% ahead of Q4 earnings; key updates to watch

What to watch out for in Q4 earnings

Key monitorables in Eternal’s Q4 earnings will include the extent of business disruption arising from the West Asia crisis, particularly any impact on gas supply and associated cost pressures.

Investors will also closely track the performance of key verticals such as Blinkit and Hyperpure to gauge growth momentum and contribution to overall profitability.

In addition, commentary on the broader operating environment—including demand trends, competitive intensity, and margin trajectory—will be crucial.

Equally important will be management’s outlook, with the Street looking for clarity on near-term challenges and the company’s strategic direction going ahead.

What happened in March 2026?

Shares of hotel, restaurant, and food delivery companies came under pressure as the hotel and restaurant industry body FHRAI on Monday flagged the shortage of commercial cooking gas cylinders due to supply disruptions and sought government intervention in the matter.

Food-delivery companies such as Eternal and Swiggy are indirectly exposed because their business depends on restaurants staying operational.

Hence, if restaurants face any business disruptions due to LPG shortages, order volumes and restaurant availability on these platforms may decline, potentially affecting revenues.

Eternal Q3 earnings snapshot

Food delivery and quick commerce firm Eternal, which owns the Zomato and Blinkit brands, reported a 72.88% rise in consolidated net profit at ₹102 crore for the December quarter of FY26.

In the year-ago period, the company logged a profit of ₹59 crore.

The company's board also approved the resignation of Deepinder Goyal as Director, MD & CEO of the company, with effect from February 1, and recommended his appointment as Vice Chairman & Director on the board for a five-year term, effective upon shareholders' approval.

The board approved the appointment of Albinder Singh Dhindsa, currently Blinkit's CEO, as Eternal's Chief Executive Officer from February 1, a regulatory filing said.

During the third quarter, Eternal's revenue from operations increased to ₹16,315 crore from ₹5,405 crore logged in the corresponding period of the last fiscal.

However, total expenses also shot up to ₹16,493 crore in the quarter from ₹5,533 crore a year ago.

In a letter to shareholders, Goyal explained the reason behind his stepping down from the role of Group CEO.

"Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal. If these ideas belonged inside Eternal's strategic scope, I would have pursued them within the company. They do not. Eternal deserves to remain focused and disciplined while exploring new areas of growth that are relevant to its current line of business," Goyal stated.