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Zomato serves profits on a hot plate, but GST bite still simmers
MUMBAI: Eternal Limited (yes, the artist formerly known as Zomato) has dished out its full-year results for FY25 and it’s a mixed bag of spicy growth, some bitter tax overhang, and a sprinkle of strategic acquisitions.
Clocking in a consolidated profit of Rs 527 crore, the company posted a sharp jump from Rs 351 crore last year. Total income rose to Rs 21,320 crore, up 64 per cent year-on-year, led by robust performance across its three main revenue streams food delivery (Rs 8,080 crore), Hyperpure B2B supplies (Rs 6,196 crore), and quick commerce (Rs 5,206 crore). Even its lesser-known “Going Out” vertical (think restaurant reservations and events) contributed a modest Rs 737 crore.
But it wasn’t all gravy. Eternal continues to battle the ghosts of legacy operations, its subsidiaries Zomato Hyperpure, Blinkit, and Zomato Entertainment racked up accumulated losses of Rs 877 crore, Rs 2,328 crore, and Rs 130 crore respectively. Blinkit alone dragged down segment results, contributing to a Rs 21 crore loss in the quick commerce vertical, though that’s a significant improvement over last year’s Rs 253 crore deficit.
The company also weathered a Rs 420 crore GST storm, with demand orders from Maharashtra and West Bengal authorities for taxes and penalties on delivery charges from 2019 to 2022. While Eternal believes it has a “strong case on merits” and has appealed the orders, the final outcome remains up in the air.
Adding to its expansion menu, Eternal acquired the movie and event ticketing arms of Paytm Orbgen and Wasteland Entertainment in a Rs 2,014 crore deal, booking a combined Rs 1,020 crore in goodwill in the process.
The company isn’t shying away from splurging either. It raised a cool Rs 8,500 crore through a QIP, and ploughed much of it back into investments, with mutual fund units, bonds and subsidiaries eating up a significant portion. Yet, Eternal ended the year with a hefty Rs 666 crore in cash, even after burning Rs 7,993 crore on investments and spending Rs 8,042 crore on financing activities.
Employee stock options continue to be a favoured dish over 477 million shares were allotted to the ESOP trust this year.
So, while the food’s hot and the numbers are sizzling, it’s clear that Eternal is still in the kitchen cooking up clarity on the tax front and trying not to get burned.
Brands
HP launches Smart Champs learning game show with JioStar for students
Sanya Malhotra hosts quiz series blending fun, learning and prizes
NEW DELHI: HP India has teamed up with JioStar to launch HP Smart Champs, a new learning-based game show designed to make education engaging for school students across the country.
Hosted by Sanya Malhotra, the 10-episode series brings together students from Grades 5 to 9, who compete in teams through quiz and puzzle-based challenges that test knowledge, logic and teamwork. The show will begin streaming on JioHotstar from April 11 and will premiere on Nick on April 18, with weekend episodes airing at 7 PM.
Powered by HP Smart Tank printers, the format integrates print-based learning into the gameplay, using worksheets, clues and visual problem-solving tools to encourage hands-on participation. The idea is to move students beyond rote memorisation and towards more applied, curiosity-led learning.
The competition promises high stakes, with winners set to receive a cash prize of Rs 10 lakh, while runners-up will take home Rs 5 lakh. Additional rewards include HP AI laptops, Smart Tank printers and accessories, while the winning school will be awarded an HP Smart Tech Lab.
Speaking about the initiative, HP India managing director Ipsita Dasgupta said, “At HP, we believe nurturing India’s youth is key to the country’s progress, and technology plays a foundational role in enabling this. With HP Smart Champs, we wanted to create something beyond traditional learning, a fun-filled platform where curiosity, creativity and critical thinking take centre stage.”
On the show’s reach, JioStar head entertainment sales Mahesh Shetty said, “HP Smart Champs reflects how children today learn through exploration and experience. With Nick and JioHotstar, we are creating a multi-screen approach that is both engaging and meaningful.”
Highlighting the role of print, HP India senior director print Satish Kumar said, “The show brings print-based learning to life in an engaging format, helping students develop deeper understanding through hands-on experiences.”
The journey to the finale began with participation from over 1,000 schools across 26 cities, narrowing down to 34 finalists who will compete in a studio showdown in Mumbai.
With its blend of entertainment, education and technology, HP Smart Champs is positioning itself as more than just a quiz show. It is a nationwide push to make learning interactive, accessible and, above all, a lot more fun.
