Eternal Limited reported a 77.6% rise in quarterly revenue, while ETtech said exits outnumbered hiring at six large Indian IT services companies, citing staffing firm Xpheno.
Eternal’s unaudited results for the quarter ended Sept. 30, 2026, showed revenue from operations of ₹24,138 crore, compared with ₹13,590 crore a year earlier. Net profit was ₹125 crore, up from ₹65 crore, and total expenses reached ₹24,166 crore, 75% higher than a year earlier.
The company also reported adjusted revenue of ₹24,621 crore, up 76%, and adjusted EBITDA of ₹666 crore, up 197%. Like-for-like growth was 58%. Eternal identifies these as adjusted measures. The company runs Zomato’s food-delivery business and Blinkit’s quick-commerce business.
Blinkit ended the quarter with 2,751 stores. Its quick-commerce revenue reached ₹19,152 crore, up 93.6%, while net order value was ₹20,940 crore, a 79.3% increase. Management expects the store count to exceed 3,500 by March 2027 and has plans for about 5,000 by March 2028.
ETtech reported that Tata Consultancy Services, Infosys, HCLTech, Wipro, Tech Mahindra and LTIMindtree recorded 92,000 exits over the past year. The report put intake at 68,000, lower by 24,422 against a comparison period it did not identify. It said hiring in IT and engineering functions trailed exits in five of the previous six months. The report did not give an exact cutoff for the annual count or specify whether exit and intake figures covered the same functions.
Xpheno CEO Francis Padamadan told ETtech, “The collective count of talent in these functions has gradually dropped.” ETtech said annual attrition rates of 11%-15% fell within the sector’s usual range.
