ETtech Explainer: Eternal’s older bets hover near breakeven as newer ventures burn cash

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Eternal‘s December-quarter earnings, announced last week, indicate that the performance of its different businesses is rather uneven.

While more mature bets like quick commerce and B2B grocery supply are showing early signs of financial stability, newer initiatives are still weighing on the group’s profitability, which is largely driven by food delivery. Zomato, the company’s food delivery platform, turned profitable in Q1 of FY24 and has been spewing cash to the tune of about Rs 500 crore every quarter.

ETtech pores through the financials.

What stood…



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ETtech Explainer: Eternal’s older bets hover near breakeven as newer ventures burn cash



Eternal‘s December-quarter earnings, announced last week, indicate that the performance of its different businesses is rather uneven.

While more mature bets like quick commerce and B2B grocery supply are showing early signs of financial stability, newer initiatives are still weighing on the group’s profitability, which is largely driven by food delivery. Zomato, the company’s food delivery platform, turned profitable in Q1 of FY24 and has been spewing cash to the tune of about Rs 500 crore every quarter.

ETtech pores through the financials.

What stood…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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