Consumer tech startup Eternal remains confident in the long-term growth of its food delivery business even as the segment sees stable growth in the sluggish macroeconomic backdrop, according to its Annual Report.
Food delivery platform Zomato continues to hold a long-term growth outlook of over 20% yearly NOV (Net Order Value) growth—value of all goods sold on the platform minus discounts—in the business. The company cites strong, unchanged fundamentals as its base, namely, low penetration of restaurant food as well as increasing urbanisation and per capita income in India.
Eternal also doubled its headcount to 16,868 in FY25 as it focused on team expansion in the quick commerce segment. Moreover, after acquiring Paytm’s event ticketing business, the company consolidated its employees from the acquired business. As a result, its employee benefit expenses also increased by 54% to Rs 2,558 crore in FY25, further helped by an increase in salaries & wages.
Eternal’s focus on expanding its quick commerce and going-out operations saw its advertisements & sales promotion expenses go up by 38%, especially driven by growth investments in the quick commerce business
including ramping up of digital marketing spends to drive customer growth.
Eternal also undertook expenses relating to the marketing of the ‘District‘ app. Refund cost increased YoY primarily due to an increase in food delivery and quick commerce refunds as order volumes scaled.
However, the overall median remuneration of employees reduced by 27.26%, on a standalone basis and 31.75% on a consolidated basis, suggesting a higher share of lower-salaried staff, particularly in customer support and dark store operations.
