Eternal’s Q2 Profit Run, Jio IPO Day 1 & More

Eternal's Q2 FY27 profit soared by 92% year-over-year, reaching ₹125 crore. Operating revenue grew 78% year-over-year to ₹24,138 crore, while adjusted EBITDA more than tripled to ₹666 crore. Total expenses rose 75% to ₹24,166 crore. Blinkit, Eternal's quick commerce vertical, powered the growth with 308 net new stores added, bringing its network to 2,751.

The company expects Blinkit to reach around 5,000 stores by March 2028. Zomato maintained steady growth in its food delivery business, with steady demand and higher ordering frequency. Eternal's going-out vertical, District, is on track towards breakeven by June 2027. Hyperpure turned EBITDA positive in Q2. The company unveiled Dark, a privacy-focused AI platform, which will be globally rolled out in 2026.

Jio Platforms IPO saw a 3.15x subscription rate, with investors bidding for 62.3 crore shares against 19.75 crore shares on offer. Blacksmith, an AI code testing startup, raised ₹663 crore in a round led by Sequoia Capital, doubling its valuation to $1 billion. eMudhra's security keys were found to be weak, leading to the blocking of impacted certificates by major browsers.

Mygate and AdOnMo are set to merge via a share swap deal, with Eternal owning around 4.4% in the merged entity. Aye Finance's net profit zoomed 151% year-over-year to ₹86.7 crore, driven by one-time gains, tighter expense control, and healthy revenue growth.