Eternal’s Deepinder Goyal on Swiggy Toing, Rapido Ownly: ‘We don’t need another app'

Deepinder Goyal, founder and CEO of Eternal Limited (formerly known as Zomato), on Thursday said that the company does not see the need to launch a separate app to target budget-conscious customers, unlike rivals Swiggy and Rapido, which have recently introduced Toing and Ownly, respectively.

Speaking on the company’s approach during Q2 earning, Goyal said that the Zomato app itself can cater to value-seeking users. To address this segment, Zomato has reduced the minimum order value for free delivery for its Gold members from Rs 199 to Rs 99.

“These apps are specifically targeting budget-conscious customers. At our end, we believe that the Zomato app should be able to solve for these use cases without needing a new app,” Goyal said.

Eternal’s Q2 profit plunges 63% to Rs 65 crore; Ad spends double to over Rs 800 crore

He added that launching another food delivery app to differentiate between customer segments adds significant organisational complexity, and therefore, Eternal will take a measured approach.

“We will wait and watch, and are okay being the last mover if, over time, it becomes clear that introducing a new app is the right long-term approach for targeting budget-conscious customers,” Goyal stated.

The comment comes amid rising competition in the food delivery and quick commerce space, with players increasingly segmenting offerings to tap into India’s expanding value market.

Meanwhile, Eternal reported a 63% year-on-year (YoY) decline in consolidated net profit to Rs 65 crore for the quarter ended September 30, 2025.

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For the first half of FY26, Eternal’s net profit stood at Rs 90 crore, sharply lower than Rs 429 crore in the same period last year.

Despite the profit decline, the company reported strong top-line growth. Total income surged 177.7% YoY to Rs 13,942 crore, compared to Rs 5,020 crore in Q2 FY25. Revenue from operations stood at Rs 13,590 crore.

The company’s quick commerce arm, Blinkit, contributed the majority of the revenue at Rs 9,891 crore in Q2 FY26, while the food ordering and delivery segment accounted for Rs 2,485 crore.