Big news is coming from Zomato! The company has officially approved changing its name to Eternal. This decision was made during a board meeting held on 6 February.
Zomato informed the Bombay Stock Exchange (BSE) about this development. CEO Deepinder Goyal shared that the term Eternal has been in use internally for a while.
Goyal explained, “Since we acquired Blinkint, we’ve been referring to the company as Eternal instead of Zomato.
This helps differentiate between the company and the Zomato app/brand. We also wanted a name that represents the broader scope of our future products.
With Blinkint becoming a major part of our business, it felt like the right time to make this change.
The company’s name (Zomato Limited) is now officially changed to Eternal, but the Zomato app and brand remain unchanged.”
Zomato Share Performance
On the stock market, Zomato shares dropped 1.22%, closing at Rs 229.90 on the NSE today. However, in the last five sessions, the stock has risen by 5%.
Despite this, shares have fallen over 16% since the start of the year. Excitingly, Zomato might join the NSE’s main index, Nifty, next month.
Quarterly Financial Results
Zomato’s performance in the third quarter of FY 2024-25 was mixed.
While revenue increased by 65% to Rs 5,404 crore, the company’s profit dropped by 57%, settling at Rs 59 crore.
