Eternal shares jump 3% from lows as Zomato hikes platform fee by Rs 2.4 per order

Synopsis

Eternal shares surged 3% after Zomato increased its platform fee by Rs 2.40 per order, bringing it in line with rival Swiggy. This move follows a significant correction in Eternal's stock, which has underperformed broader indices over the past six months.

Eternal shares on Friday rose 3% from the day's low of Rs 230.10 on the NSE to scale the day's high of Rs 236.70 after its food delivery platform Zomato increased the platform fee by Rs 2.40 per order. The stock witnessed strong investor response with over 5.5 crore shares getting traded on the exchange. The traded value of the shares stood at Rs 1,293 crore.

The stock finally ended at Rs 232.41, up by Rs 3.67 or 1.60% over the last closing price of Rs 228.74.

On a pre-GST basis, platform fee on Zomato is now Rs 14.90 per order from Rs 12.50 earlier, according to a news report by ET Tech. The last such hike was undertaken in September 2025, the report said. Zomato's food delivery rival Swiggy is currently charging a fee of Rs 14.99 per order, including taxes. Typically, the two players follow each other in changing these levies.

The move comes at a time when urban mobility startup Rapido has launched its food delivery offering Ownly in Bengaluru, claiming that it will not charge any additional fees to customers or restaurants apart from a delivery charge.

Eternal shares have seen significant correction, declining 30% in the past six months. It has underperformed Nifty and the BSE Sensex, which have declined 9% and 10%, respectively in the same period.

The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 265 and Rs 291, respectively, according to Trendlyne data.

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Eternal, which also operates quick commerce arm Blinkit, reported a 73% year-on-year (YoY) rise in consolidated net profit to Rs 102 crore. Revenue from operations surged 201% YoY to Rs 16,315 crore.

Revenue growth was mainly driven by an accounting shift to inventory ownership in quick commerce, where revenue now includes the full value of goods sold rather than just marketplace commission. According to Eternal, the like-for-like revenue growth during the quarter was 64% YoY.

Consolidated EBITDA increased 28% YoY to Rs 364 crore, while rising 63% QoQ.

For the food delivery business, adjusted revenue rose 26% YoY to Rs 2,413 crore. Net order value (NOV) increased 17% YoY, accelerating from 13.8% growth in the previous quarter. This marked the second consecutive quarter of NOV growth acceleration, following a trough of 13.1% in Q1FY26. Gross order value (GOV) growth for the third quarter stood at 21% YoY.

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