Zomato-parent Eternal profit jumps as Blinkit turns profitable

Eternal, the Gurgaon-based parent of Zomato and Blinkit, said its operating revenue for the quarter ended March 2026 tripled year on year to 172.9 billion rupees (US$1.83 billion).

Net profit rose 4.5 times to 1.7 billion rupees (US$18.4 million), helped by better quick commerce margins and Blinkit’s shift to recording the full value of sales.

Blinkit’s net order value rose 95% from a year earlier.

The unit posted adjusted EBITDA of 370 million rupees (US$3.92 million), its second straight quarter of operating profit, compared with a loss of 1.8 billion rupees (US$18.9 million) a year earlier.

Quick commerce growth may moderate as competition increases, said CEO Albinder Singh Dhindsa, while Eternal’s consumer businesses have crossed US$10 billion in net order value, said founder Deepinder Goyal.

Zomato’s net order value rose 19% to 97.6 billion rupees (US$1.03 billion).

🔗 Source: The Economic Times

🧠 Food for thought

Implications, context, and why it matters.

Eternal’s profits rest on a costly growth push

Results look strong, yet they fit a long-term push for US$1 billion in adjusted operating profit by FY29, or fiscal year 2029 1.
To get there, Eternal expects Blinkit, its quick commerce unit for groceries and other items in minutes, to grow more than fourfold over the next three years 2.
That build-out means opening hundreds of dark stores, small local warehouses used only for online orders. These sites often need 8 to 12 months to mature and can weigh on margins early 3.
In food delivery, Eternal is cutting the minimum order needed for free delivery for Gold customers, members of its paid loyalty program. The move aims to increase order frequency among price-sensitive customers by lowering average order value 2.

Quick commerce growth changes urban work and retail in India

Eternal depends on a large pool of delivery riders treated as independent partners. They often do not get fixed salaries, paid leave, or social security benefits 4.
Delivery targets can push riders into long shifts. In one case, a rider worked 406 hours in a month to earn incentives 4.
For many city residents, ordering even a single item on demand has become part of daily life, changing buying habits 4.
This differs from Western markets, where many ultra-fast delivery startups cut back or shut down after the pandemic. In India, the model is becoming more rooted in urban commerce 4.