Zomato Q4 earnings: strong growth, slim profit
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Zomato Q4 earnings: strong growth, slim profit
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Eternal Q4 report: Net profit plummets on Blinkit losses; food delivery stays in the slow lane
Key numbers:
Revenue surged 64% YoY to Rs 5,833 crore.
Food delivery gross order value (GOV) grew 16% YoY but declined 1% quarter-on-quarter (QoQ).
Blinkit's operating losses rose sharply to Rs 178 crore, up from Rs 108 crore in Q3FY25.
Business shutdown:
Food delivery slump:
A sluggish demand environment.
Temporary delivery worker shortages due to the expansion of quick commerce.
Rising competition from quick commerce platforms delivering packaged food.
Also Read:
'Will grow Blinkit's market share aggressively': Eternal CFO Akshant Goyal
Also Read:
Management mindset:
Also Read:
Elon Musk, Tesla board deny report on CEO succession plans
The claims:
It claimed the move was partly driven by concerns over Musk's growing proximity to president Donald Trump and his administration.
The report also stated that board members had met with Musk and urged him to publicly commit to spending more time at Tesla.
Recent developments:
Tesla's response:
Meta profits unaffected by AI spends, Microsoft pumps brakes
Meta Q1 scorecard:
Microsoft's March quarter:
What's next:
Adani pauses talks with Israel's Tower for $10 billion India chip foray, sources say
Driving the news:
In September, the Maharashtra government approved the Adani-Tower project to establish a semiconductor facility targeting 80,000 wafers per month and creating 5,000 jobs, supporting Prime Minister Narendra Modi's campaign to position India as a global chipmaking hub.
However, the Adani Group has since halted talks following an internal review that raised concerns about demand, particularly within the domestic market, the report added.
Bigger picture:
Adani's move marks another potential setback for Modi's "Make in India" semiconductor initiative.
This programme is central to bolstering India's geopolitical standing in the electronics manufacturing sector. Yet, the country still lacks a single operational semiconductor fabrication facility.
Goodbye GPT-4: OpenAI CEO Sam Altman bids farewell to a 'revolutionary' model
What's changing:
Looking back:
What else:
Zomato parent Eternal reported a drop in its net profit due to increasing losses in Blinkit, even as food delivery growth continued to be subdued. This and more in today's ETtech Top 5.■ Tesla board backs Musk■ Meta stays steady, Microsoft pauses■ Adani's holding its chipsDeepinder Goyal, CEO, EternalGurgaon-based Eternal, the parent company of Zomato and Blinkit, reported a 78% year-on-year (YoY) drop in net profit to Rs 39 crore for the March 2025 quarter.Eternal has shuttered its 15-minute food delivery service, Quick and homely meals offering, Everyday, due to weak demand. CEO Deepinder Goyal, in a letter to shareholders, said the company saw no visible 'path to profitability' for these services 'without compromising customer experience.'Goyal outlined three key reasons behind the slowdown in food delivery growth.Akshant Goyal, CFO, EternalEternal's quick commerce arm, Blinkit, continued to drag down profitability during the March quarter as it ramped up its dark store network . CFO Akshant Goyal said the company remains focused on capturing market share, even at the cost of short-term profitability.Goyal noted that intensifying competition in the quick commerce space is driving up costs across marketing, real estate, and last-mile delivery.Elon Musk, CEO, TeslaBillionaire Elon Musk and the board of EV maker Tesla have denied a bombshell Wall Street Journal report alleging the company has been exploring potential successors for its CEO.According to the report, Tesla board members began contacting executive search firms about a month ago to identify possible replacements for Musk Last week , Musk announced he would 'cut back significantly' on the time he devotes to working with the Trump administration, pledging to focus more on his companies. The statement followed investor unease over his involvement with the Department of Government Efficiency (DOGE), which has faced criticism.This came alongside recent protests and incidents of vandalism at Tesla locations in the US and Europe. Tesla's stock has declined since December, with the company shedding nearly $600 billion in market value. Musk's net worth has also dropped by approximately $150 billion since mid-December.Tesla chair Robyn Denholm dismissed the report as 'absolutely false,' adding that the board remains 'highly confident in his ability to continue executing on the exciting growth plan ahead.'Mark Zuckerberg, CEO, MetaFacebook and Instagram parent Meta beat expectations with strong first-quarter profits, easing concerns over its aggressive investments in cloud computing and artificial intelligence. In contrast, Microsoft has moderated its AI spending after 10 consecutive quarters of expansion.The social media giant posted a $16.6 billion profit for the three months to March, on revenue of $42.3 billion. The Mark Zuckerberg-led company has earmarked $64-72 billion in capital expenditures for 2025, primarily to support its AI ambitions.Revenue for the Windows maker rose 13% year-on-year to over $70 billion, while profit climbed 18% to $25.8 billion. Overall, results highlighted unexpected resilience across Microsoft's business lines.Meta said it is making good progress on AI glasses and its Meta AI platform. Zuckerberg noted that the company is already deploying its AI tools across platforms – from ad creation and targeting to personalised content recommendations. However, Meta still faces a major antitrust case that could lead to the forced divestiture of WhatsApp and Instagram.At Microsoft, CEO Satya Nadella said demand for cloud and AI services remained strong. The company is adjusting its investments based on improvements in computing efficiency, regional demand patterns, and the types of services its customers seek.Gautam Adani, chairman, Adani GroupGautam Adani's eponymous group has paused talks with Israel's Tower Semiconductor over a planned $10 billion chip manufacturing project in India, citing a lack of strategic and commercial alignment, sources told Reuters.Sam Altman, CEO, OpenAISam Altman, CEO of OpenAI, expressed his farewell to GPT-4 on X, remarking that it 'kicked off a revolution.' He indicated that the weights of GPT-4 would be preserved on a special hard drive for future historians.OpenAI has announced the complete replacement of GPT-4 with GPT-4o. However, GPT-4 will still be accessible through its API (Application Programming Interface). Launched in March 2023 , GPT-4 marked a significant milestone for OpenAI, introducing multimodal capabilities that enable the model to comprehend both text and images. It has powered ChatGPT and Microsoft's AI assistant, Copilot. Altman previously disclosed that the training of GPT-4 cost over $100 million.The retirement of GPT-4 follows OpenAI's reversal of what Altman described as an 'annoying' update to GPT-4o , which had prompted user complaints regarding the chatbot's overly optimistic and flattering responses.
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