Eternal, the company that runs Zomato and Blinkit, reported a 346.15 percent year-over-year increase in consolidated net profit at Rs 174 crore for the March quarter. This increase was fueled by improvements in operating efficiency and growth in its rapid commerce segment.
In Q4FY26, the company’s consolidated adjusted sales reached Rs 17,680 crore, an increase of 186% year over year. While adjusted Ebitda increased 160% to Rs 429 crore from Rs 364 crore in the previous quarter, B2C net order value (NOV) increased 54% to Rs 26,880 crore.
The company is entering an expedited scale phase, according to founder and CEO Deepinder Goyal. It took us eighteen years to reach our first annual USD 10 billion in NOV. In less than two years, the yearly NOV will double to USD 20 billion, he said. After reaching that level of profitability in FY24, he continued, the company anticipates reaching USD 1 billion in adjusted Ebitda by FY29.
Over USD 10 billion was transacted by 109 million users on Blinkit, District, and Zomato during FY26, demonstrating an increase in consumption in the food delivery, rapid commerce, and dining-out categories.
Quick Commerce Drives Expansion
Net order value increased 95.4% year over year, with quick commerce continuing to drive growth. Compared to Rs 4 crore in the prior quarter, the segment reported adjusted Ebitda of Rs 37 crore. During the quarter, Eternal opened 216 net new stores, bringing its total to 2,243.
“Today, quick commerce is still concentrated in the top 15-20 cities and in a relatively narrow set of categories,” stated Albinder Singh Dhindsa, Group CEO. There is significant room for expansion in terms of region, assortment, and frequency.
Blinkit’s net order value increased at a compound annual growth rate of 104% between FY23 and FY26, and the business anticipates growth to stay over 60% CAGR for the following three years.
According to the company, there will probably be better sequential performance in Q1FY27. “Quick commerce is often worst in the fourth quarter, and this year was no exception. Chief Financial Officer Akshant Goyal stated, “The demand signals we’re seeing in April indicate that the recovery this quarter will be strong.”
Food Delivery Shows Steady Recovery
The meal delivery business’s net order value increased by 18.8% year over year, getting close to the company’s long-term benchmark of more than 20%. With margins improving to 5.5%, the segment posted adjusted Ebitda of Rs 532 crore, up 24% year over year.
“After bottoming out in Q1FY26, growth has been accelerating over the last three quarters, driven primarily by deliberate interventions to expand the addressable market into more price-sensitive segments,” Goyal stated.
The company’s restaurant supply division, Hyperpure, reported a 37% increase in revenue and increased margins, while the going-out section recorded a 46.5% increase in net order value.
Over the past eighteen years, we have experienced multiple cycles of disruption. However, what keeps us competitive is our capacity to change course, disrupt ourselves, and occasionally even cannibalize ourselves, according to Goyal.
Eternal’s shares ended Tuesday at Rs 258.28 on the NSE, up 1.09%. Over the past year, the stock has increased by more than 13%, while the Nifty 50 has decreased by around 2%.
Frequently Asked Questions (FAQ)
Q1. What is Eternal and which businesses does it operate?
Eternal is the parent company of Zomato and Blinkit, operating across food delivery, quick commerce, and dining-out services.
Q2. How much profit did Eternal report in Q4FY26?
Eternal reported a 346.15% year-on-year increase in consolidated net profit, reaching ₹174 crore in Q4FY26.
Q3. What drove Eternal’s strong Q4 performance?
The growth was mainly driven by:
- Rapid expansion of Blinkit
- Improved operational efficiency
- Strong performance in quick commerce and food delivery segments
Q4. How did Blinkit contribute to growth?
Blinkit played a key role with:
- 95.4% YoY growth in net order value
- Expansion to 2,243 stores
- Positive adjusted EBITDA growth
Q5. What did CEO Deepinder Goyal say about future growth?
Deepinder Goyal stated that the company is entering a rapid scale phase and expects:
- Net order value to double from $10 billion to $20 billion within two years
- Adjusted EBITDA to reach $1 billion by FY29
Q6. How did the food delivery segment perform?
The food delivery business (via Zomato):
- Grew 18.8% YoY in net order value
- Reported ₹532 crore adjusted EBITDA
- Achieved improved margins of 5.5%
Q7. What role does quick commerce play in Eternal’s strategy?
Quick commerce is a major growth driver, currently concentrated in top cities but expected to expand significantly in:
- Geography
- Product categories
- Customer frequency
Q8. What are the company’s future expectations?
Eternal expects:
- Strong recovery in Q1FY27
- Continued rapid growth in quick commerce
- Sustained expansion in food delivery and dining segments
Q9. How did Eternal’s stock perform recently?
Eternal’s shares closed at ₹258.28 on NSE, rising 1.09%, and have gained over 13% in the past year, outperforming broader market trends.
Q10. What is the significance of this growth for India’s startup ecosystem?
Eternal’s strong performance highlights:
- Rising demand in food delivery and quick commerce
- Scalability of tech-driven platforms
- Growing investor confidence in India’s digital economy
