India's Eternal quarterly profit misses estimates as Blinkit expansion costs weigh
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India's Eternal quarterly profit misses estimates as Blinkit expansion costs weigh Oct 21 (Reuters) - India's Eternal ETEA.NS reported a rise in second-quarter profit but missed expectations on Wednesday, as higher spending on expanding its quick-commerce business Blinkit weighed.
The company's consolidated net profit rose 92.3% to 1.25 billion rupees ($13.24 million) in the quarter ended September 30, from 650 million rupees a year earlier.
Analysts, on average, had expected a profit of 2.71 billion rupees, according to data compiled by LSEG.
($1 = 94.4250 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru; Editing by Harikrishnan Nair)
((Mailto: Surbhi.Misra@thomsonreuters.com))
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