New Delhi: Eternal Ltd, the parent firm of Zomato and Blinkit, reported a strong financial performance for the fourth quarter of FY26, with profit rising nearly 4.5 times year-on-year despite global concerns such as LPG supply disruptions linked to tensions in the Strait of Hormuz.
The company said its diversified business model and wide supply network helped it remain resilient, even as localised disruptions impacted parts of the food ecosystem.
Strong profit and revenue growth
Eternal posted a net profit of ₹174 crore for Q4 FY26, compared to ₹39 crore in the same quarter last year. On a sequential basis, profit rose 70.5 per cent from ₹102 crore reported in the previous quarter.
Revenue for the quarter surged 196.4 per cent year-on-year to ₹17,292 crore, up from ₹5,833 crore a year earlier. It also grew sequentially from ₹16,315 crore in Q3 FY26.
The company’s consolidated adjusted EBITDA increased 160 per cent year-on-year to ₹429 crore and rose 18 per cent quarter-on-quarter from ₹364 crore.
Eternal also reported an improvement in its cash position, with reserves increasing to ₹17,972 crore, aided by reduced net working capital following a shift to an inventory-led model.
Growth across platforms
The company highlighted strong performance across its platforms, noting that in FY26, around 10.9 crore Indians completed transactions worth over $10 billion through Blinkit, District and Zomato services.
For the full financial year, revenue stood at ₹54,364 crore, marking a 2.6 times increase from ₹20,243 crore in the previous year.
Food delivery shows steady expansion
In the food delivery segment, net order value (NOV) rose 18.8 per cent year-on-year to ₹9,757 crore. Adjusted revenue grew 29.7 per cent to ₹3,125 crore.
Founder Deepinder Goyal said growth was driven by improving demand, reduced minimum order value for free delivery under Gold membership, and continued investments in customer acquisition.
He noted that app usage has been rising steadily and that the earlier impact of quick commerce on food delivery has stabilised.
“When localised supply disruptions happen — whether from LPG shortages, weather, or anything else — demand tends to redistribute across the platform rather than decline,” Goyal said, adding that the platform’s wide restaurant network ensures alternatives for customers.
The average monthly transacting customer base remained largely stable at 2.54 crore users.
Blinkit drives quick commerce surge
Quick commerce arm Blinkit delivered strong growth, with NOV rising 95.4 per cent year-on-year to ₹14,386 crore.
Revenue from the segment surged 674.3 per cent to ₹13,232 crore, largely due to the transition to an inventory-led model.
Blinkit reported an adjusted EBITDA of ₹37 crore in Q4 FY26, improving from ₹4 crore in the previous quarter—marking sustained profitability after its first positive quarter earlier in the fiscal.
Group CEO Albinder Dhindsa said Blinkit’s growth trajectory remains strong, with expectations of over 60 per cent compound annual growth over the next three years.
The company added 216 net new dark stores during the quarter, taking the total to 2,243 stores, with a target of reaching 3,000 stores by March 2027.
Other business segments
Eternal’s ‘going-out’ vertical saw NOV grow 46.5 per cent year-on-year to ₹2,736 crore. Meanwhile, its B2B supplies arm Hyperpure reported a decline in revenue by 46.8 per cent to ₹978 crore but improved profitability, with adjusted EBITDA rising to ₹5 crore.
Chief Financial Officer Akshant Goyal said the going-out business should be assessed on an annual basis due to seasonal fluctuations influenced by events, sports leagues and film releases.
AI and operational outlook
Deepinder Goyal emphasised that artificial intelligence is a complementary tool rather than a disruptive threat to the company’s core operations.
“AI will not replace the need to move food, manage logistics or build infrastructure,” he said, while adding that Eternal is among the largest deployers of AI in India across areas such as demand prediction, route optimisation, supply chain management and fraud detection.
Market reaction
Following the announcement of results, Eternal’s shares recovered from intraday losses to close at ₹253.8, slightly lower than the previous close of ₹255.6.
Conclusion
Eternal’s robust Q4 performance highlights the strength of its diversified business model across food delivery, quick commerce and B2B services. Despite global uncertainties and localised disruptions, the company continues to show strong growth momentum and expansion potential across India.
Comments are closed.