Eternal Share Price: Zomato parent’s stock in limelight after Q2 profit doubles, dark.ai launch; brokerages see up to 64% upside – Markets

Eternal Share Price: Shares of Eternal, the parent company of Zomato and Blinkit, rose on Thursday, October 22, after the company reported a near-doubling of consolidated net profit for the September quarter and launched its privacy-first artificial intelligence (AI) model, dark.ai, on Wednesday.

Eternal reported a consolidated net profit of Rs 125 crore for the September quarter, compared with Rs 65 crore in the corresponding period a year ago, supported by revenue growth. The company also reported an increase in operating expenses during the quarter.

Eternal Q2 Results: Profit doubles to Rs 125 crore

Eternal reported revenue from operations of Rs 24,138 crore in the second quarter of the ongoing financial year. Its total expenses rose to Rs 24,166 crore from Rs 13,813 crore in the year-ago period.

The company’s September-quarter performance was supported by growth in its Zomato food delivery and Blinkit quick-commerce businesses.

Blinkit added 308 net new stores during the quarter, taking its total network to 2,751 stores. The company expects Blinkit’s store network to cross 3,500 by March 2027.

Zomato’s food delivery net order value (NOV) grew 21.5 per cent year-on-year to Rs 11,445 crore, Eternal stated.

dark.ai launch puts Eternal shares in focus

Eternal launched dark.ai on Wednesday, positioning the platform as a privacy-first AI model. In a letter to shareholders, the company said the global launch is targeted for 2026.

According to Eternal, dark.ai models run on the company’s own infrastructure and use end-to-end encryption. The company claims it cannot read users’ conversations.

The platform targets power users, including founders, researchers, scientists, enterprises and governments. Its focus is on protecting sensitive ideas, research, conversations and emotions.

Eternal is positioning privacy as a competitive advantage for businesses. The company has also claimed high answer quality and said benchmarks will be revealed soon. It stated that its models are trained to prioritise truth over pleasing users.

Eternal Share Price Target 2026

Brokerages have maintained their ratings on Eternal while revising their share price targets. Based on a CMP of Rs 312.35, CLSA has the highest target of Rs 513, indicating a potential upside of 64.24 per cent.

Macquarie remains bearish, with an Underperform rating and a target of Rs 225, indicating a potential downside of 27.95 per cent.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)