Food Delivery App Zomato Will Now be Known As Eternal
First Published: 6th February, 2025 21:39 IST
Eternal will comprise four major businesses (as of now) – Zomato, Blinkit, District, and Hyperpure.
Food-tech giant Zomato on Thursday officially changed the company’s name to Eternal, following an approval from its board.
In a letter to shareholders on Thursday, Deepinder Goyal said the company board has approved the name change, requesting shareholders to also support this change.
“We would like to inform that the board of directors of the company vide resolution dated February 6, 2025, have approved the change in the name of the company from ‘Zomato Ltd’ to ‘Eternal Ltd’,” Goyal said in the letter.
The Zomato app will not be renamed but the stock ticker will be changed from Zomato to Eternal. Eternal will comprise four major businesses (as of now) – Zomato, Blinkit, District, and Hyperpure.
Though the company’s board has approved the name change, it will now require shareholders’ nod to formally change the name.
“Our Board has approved this change today and I request our shareholders to also support this change. If and when it is approved, our corporate website will transition from zomato.com to eternal.com. We will also change our stock ticker from ZOMATO to ETERNAL. Eternal will comprise four major businesses (as of now) – Zomato, Blinkit, District, and Hyperpure,” Goyal said in a letter to shareholders filed on the BSE separately.
During Q3FY25, Zomato saw its consolidated profit after tax (PAT) drop 57 percent year-on-year (Y-o-Y) to Rs 59 crore, down from Rs 138 crore in the same period a year ago. It had reported a PAT of Rs 176 crore in Q2FY25. Its revenues however rose 64 percent Y-o-Y to Rs 5,404 crore in Q3FY25, up from Rs 3,288 crore a year ago and Rs 4,799 crore in the previous quarter.
Why Company Decides To Change Name To ‘Eternal’
In a letter filed with the BSE, Deepinder Goyal, group CEO and co-founder of Zomato, said, “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 signicant driver of our future. Today, with Blinkit, I feel we are there. We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd.”
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