Zomato-parent Eternal receives ₹64.17 crore state tax notice from Uttar Pradesh government — Here’s what we know
Eternal, the parent company of online food delivery platform Zomato, on Sunday, October 19, 2025, announced that the Deputy Commissioner of State Excise of the government of Uttar Pradesh (Lucknow) has imposed a demand order of the following amount: ₹64.17 crore, according to an exchange filing.
According to the application data, the request order is as follows: ₹64,17,43,503 or more ₹64.17 crore along with applicable interest and penalty.
Eternal’s BSE filing showed that a demand order has been obtained regarding deficiency in payment of output tax and alleged over-utilization of input tax credit (ITC) along with interest and penalty.
Sharing the allegations of the Lucknow state tax department, Eternal said, “A demand order has been received for short payment of output tax and excessive utilization of input tax credit along with interest and penalty.”
The application highlighted that the parent company of the food distribution company received the demand order from the state government on October 18, 2025.
What does Eternal plan to do?
In Sunday’s filing, Eternal said it does not expect any financial impact on the company’s operations. Eternal also plans to appeal against the Lucknow government’s decision to demand state tax.
“We believe we have strong evidence of merit and do not expect any financial impact on the company,” the company told BSE through a stock exchange filing.
Eternal Q2 Results
Mint It had previously reported that food delivery and express trade company Eternal recorded a 63% drop in consolidated net profit. ₹65 crore in the July-September quarter of fiscal 2025-26 compared to its previous level. ₹It was 176 billion lira in the same period a year ago.
Eternal’s revenue from operations ₹13,590 crore in the second quarter of fiscal 2025-26. ₹4,799 crore in the same period of the previous year.
Eternal share price closed with a decrease of 1.64% ₹342.70 after Friday’s stock market session ₹It was at 348.40 at the previous market close. The company announced its second quarter results on Thursday, October 16, 2025.
The firm’s shares have given stock market investors more than 172% returns on their investments since its listing on the Indian stock exchange in 2021. Shares have increased by 29% in the last one-year period.
On a year-to-date (YTD) basis, Eternal shares are up 23.96% in 2025 and 1.84% in the last one-month period.
Eternal shares hit 52-week high ₹52-week low at 368.40 on October 16, 2025 ₹189.60 on April 7, 2025, as per data collected from BSE website. Market value of the company (M-Cap) ₹3.30 trillion as of the stock market close on Friday, October 17, 2025.
Read all stories written by Anubhav Mukherjee
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