Business
Eternal Limited receives GST demand order for FY20; plans to appeal
Eternal Limited receives GST demand order for FY20; plans to appeal
About this update from Eternal Limited
Eternal Limited said it has received an order from the Additional Commissioner of State Tax (Appeals), West Bengal, for the period April 2019 to March 2020, confirming a GST demand of ₹1.92 crore along with interest of ₹1.58 crore and a penalty of ₹19.24 lakh.It added that it believes it has a strong case on merits and will file an appeal against the order before the appropriate authority.Eternal Limited’s shares closed at ₹279.00, down ₹2.80 or 0.99 %, in today’s session. In Q2 FY26, on a consolidated basis, Eternal's revenue for the quarter nearly tripled, growing 183% on a consolidated basis to ₹13,590 crore from ₹4,799 crore. Revenue growth for the quarter was led by the quick-commerce business. Eternal's quick commerce division, Blinkit, reported revenue of ₹9,891 crore, from ₹1,156 crore last year. This implies a growth of 755% on a year-on-year basis. The company opened 242 stores during the quarter, and expects the store count to be at 2,100 by the end of the year, compared to 2,000 guided for earlier.