Fri Feb 07 04:18:19 UTC 2025: **Zomato Rebrands as Eternal Amidst Slowdown in Food Delivery Sector**
MUMBAI, INDIA – Food tech giant Zomato has officially changed its name to Eternal Ltd., the company announced in a stock exchange filing. The rebranding, first hinted at last year, reflects Zomato’s strategic shift towards its quick-commerce arm, Blinkit, and other ventures including District and Hyperpure. The Zomato app itself will retain its name.
The company’s CEO and co-founder, Deepinder Goyal, described “Eternal” as a “mission statement,” signifying the company’s long-term vision beyond its core food delivery business. This name change comes as Zomato experiences a slowdown in its food delivery segment, mirroring a similar trend observed in its competitor, Swiggy. While Q3FY25 saw a 64 percent year-on-year revenue increase to Rs 5,404 crore, profit after tax dropped 57 percent to Rs 59 crore.
Despite board approval, the name change still requires shareholder ratification. The stock ticker will change from Zomato to Eternal. The announcement follows news from the India’s Largest Regional Retail Option Traders Summit (BOTS), an event focused on options trading. Other financial news includes updates on the Sensex, Nifty, RBI repo rate, and various company earnings reports.
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