Preview: India's Eternal to post higher profit on food delivery strength, analysts say
BUZZ-PREVIEW-India's Eternal to post higher profit on food delivery strength, analysts say ** Analysts, on average, expect India's Eternal ETEA.NS to post Q1 net profit jump to 2.58 billion rupees ($26.8 mln), compared with 250 million rupees a year ago - data compiled by LSEG
** Food delivery and quick commerce platform also expected to post more than 2x year-on-year rise in June-quarter revenue to 204.39 billion rupees, per LSEG-compiled data
** Brokerage Jefferies expects Eternal's food-delivery net order value to rise 17% year-on-year with stable margins
** Stock trading flat at 286.80 rupees
** Analysts at Investec forecast about 19% y/y growth at company, aided by healthy demand and improving profitability
** ETEA rated "buy" on average by 32 analysts, median PT at 360 rupees - data compiled by LSEG
** YTD, stock up 3.1%
($1 = 96.2650 Indian rupees)
($1 = 96.2650 Indian rupees)
(Reporting by Surbhi Misra and Kashish Tandon in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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