Zomato Shares Soar: Brokerages Bullish After Strong Q3, Blinkit Achieves EBITDA-Positive Status

• Eternal Ltd (Zomato) reported a 73% rise in consolidated net profit to Rs 102 crore for Q3 FY26, with revenue tripling to Rs 16,315 crore, driven by quick commerce.
• Blinkit and Hyperpure achieved adjusted EBITDA-profitable status during the quarter, a significant milestone for Eternal.
• Brokerages like CLSA, Jefferies, HSBC, and Nomura maintained 'buy' or 'outperform' ratings, citing Blinkit's strong performance and improved profitability metrics.
• CLSA highlighted Blinkit's contribution per order beating estimates and a 121% YoY jump in net order value, raising FY26-28 estimates by 5-15%.
• Founder Deepinder Goyal will step down as MD & CEO, with Albinder Dhindsa taking over; Goyal will remain involved at the board level as Vice Chairman and Director.

Why It Matters: Zomato's strong Q3 results, driven by Blinkit's EBITDA-positive turn, have led to widespread brokerage optimism.