New Delhi, Feb 6 (IANS) Food-tech giant Zomato (NSE:ZOMT) on Thursday officially changed the company’s name to Eternal, following an approval from its board.In a stock exchange filing, the online food aggregator said that when we acquired Blinkit, we started using “Eternal” (instead of Zomato) internally to distinguish between the company and the brand/app.
“We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there,” said Deependra Goyal, Co-founder of Zomato.
The group CEO added that “we would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd”.
Despite the name change, the Zomato app will continue to operate under its existing name. However, the company’s stock ticker will now be updated from Zomato to Eternal.
Eternal will serve as the umbrella brand for four major businesses -- Zomato, Blinkit, District and Hyperpure.
These divisions represent the company’s growing presence in food delivery, quick commerce, dining services, and supply chain solutions.
Meanwhile, the online food delivery giant clocked a 57 per cent decline in net profit (year-on-year) at Rs 59 crore in Q3 from Rs 176 crore in the same period last fiscal.
However, the company’s revenue from operations increased by 64 per cent to Rs 5,404 crore in the latest quarter earnings announced on January 20.
The expenses of the Gurugram-based food giant rose to Rs 5,533 crore.
In a letter to shareholders on January 20, the company shared updates on its progress and expansion plans, stating that it aims to open 1,000 new Blinkit stores by December this year.
This announcement was made along with the financial results for Q3 ended on December 31, 2024.
--IANS
pk/na