[[{“value”:”
Eternal’s going-out business District saw a strong growth in the first quarter of FY26, with its revenue surging 118% to INR 207 Cr. However, the vertical’s revenue declined 10% QoQ from INR 229 Cr.
It is pertinent to note that YoY growth numbers are not comparable as Eternal acquired the entertainment ticketing business of Paytm in August last year. On a like-for-like basis, District’s revenue rose 66% YoY in Q1 FY26.
Eternal continues to be bullish on the going-out business. Notably, the company provides services like dining-out, movies, sports, concert ticketing, among others, via the District app. Last month, Eternal also launched listings of retail stores and chains on District.
Eternal CEO Deepinder Goyal, in the company’s shareholder letter, said that the going-out business is now INR 8,000 Cr annualised net order value (NOV) business, which is about 20% of the size of the company’s food delivery and quick commerce businesses.
“In Q1FY26, we had about 2 Mn average monthly transacting customers transacting about 2 times a month on an average with a net AOV (NAOV) of INR 1,700+,” Goyal said.
CFO Akshant Goyal sounded even more bullish on District, saying the business is generating average revenue per order of over INR 160, which is “meaningfully” higher than the food delivery and quick commerce business.
“If we execute well, this business has the potential to scale to $3 Bn in annual top line (NOV) with $150 Mn of adjusted EBITDA sometime over the next five years,” the CFO added.
However, it is pertinent to note that District reported an adjusted EBITDA loss of INR 54 Cr in the June quarter as against a loss of INR 47 Cr in the preceding March quarter and an adjusted EBITDA profit of INR 10 Cr in the year-ago quarter.
(The story will be updated soon)
The post Eternal Q1: District’s Revenue Jumps To INR 207 Cr appeared first on Inc42 Media.
“}]]
Read More Latest Startup News From The Indian Startup Ecosystem – Inc42 Media