Eternal Q1 Profit Soars 4x as Blinkit Crushes Loss Streak

Avinash
By
Avinash
Avinash is a dedicated MBA professional with expertise in business operations, team management, and AI-driven content development. Backed by global certifications and published HR research, he...
Eternal reported Rs 92 Cr profit in Q1 FY27 as Blinkit delivered Rs 102 Cr adjusted EBITDA after years of expansion-led losses.

Quick Take

  • Eternal posted Rs 92 Cr net profit in Q1 FY27, up 268% year-on-year.
  • Blinkit swung to Rs 102 Cr adjusted EBITDA from a Rs 162 Cr loss.
  • Revenue hit Rs 20,211 Cr, but profit fell 47% from the March quarter.

Eternal Q1 profit rose 268% year-on-year to Rs 92 Cr for the April-June 2026 quarter, the Gurugram company said in a stock exchange filing on July 22, 2026, as quick commerce arm Blinkit turned operationally profitable.

Revenue from operations reached Rs 20,211 Cr, up 182% from Rs 7,167 Cr a year ago (company filing). Blinkit alone contributed Rs 15,664 Cr of that. The parent of Zomato, Blinkit, District and Hyperpure now earns most of its reported revenue from grocery delivery, not restaurant orders. You can read the full filing on the Eternal investor relations results page.

StartupFeed Insight

The headline number hides the real story. Eternal Q1 profit fell 47% sequentially, yet adjusted EBITDA rose 29% over the same three months. That gap is tax, not trouble. The number StartupFeed is watching is Blinkit’s 0.6% EBITDA margin on net order value, because food delivery already runs at 5.6%. Analysts modelling a 2027 re-rating should track store productivity per dark store, not store count. We expect Blinkit to cross a 1% NOV margin by Q4 FY27 if net store additions stay near 200 a quarter and gourmet stores lift basket sizes in the top eight cities. By Avinash.

Eternal Q1 Profit: The Numbers Breakdown

Eternal reported consolidated profit after tax of Rs 92 Cr for the quarter ended June 30, 2026, against Rs 25 Cr a year earlier. The company filed the results with stock exchanges on July 22, 2026. Every figure below comes from that filing and the accompanying shareholder letter.

Metric Q1 FY27 Notes
Net profit (PAT) Rs 92 Cr +268% YoY, down 47% from Rs 174 Cr in Q4 FY26
Revenue from operations Rs 20,211 Cr +182% YoY from Rs 7,167 Cr
Adjusted EBITDA Rs 555 Cr +223% YoY, +29% QoQ
Total income Rs 20,586 Cr Includes non-operating income
B2C net order value Rs 31,120 Cr +54% YoY across all consumer segments
Results date July 22, 2026 Exchange filing, quarter ended June 30, 2026

The most striking line is the revenue jump. Most of that 182% rise is accounting, not demand. Blinkit now books the full value of goods it owns and sells, so revenue climbed 553% YoY even though net order value grew 86%.

About Eternal

Eternal Limited, formerly Zomato, is a Gurugram-headquartered consumer internet company founded in 2008 by Deepinder Goyal and Pankaj Chaddah. It runs four businesses: Zomato food delivery, Blinkit quick commerce, District for going-out bookings, and Hyperpure for restaurant supplies. B2C net order value reached Rs 31,120 Cr in Q1 FY27. The company is listed on the NSE and BSE, with Info Edge among its earliest backers.

Is Blinkit finally profitable?

Blinkit posted adjusted EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) of Rs 102 Cr in Q1 FY27, against a loss of Rs 162 Cr a year earlier. That marks its fifth straight quarter of EBITDA improvement, per the company shareholder letter. Margins reached 0.6% of net order value. Blinkit added 200 net new dark stores during the quarter, taking its network to 2,443 stores.

We continue to focus our efforts on our three pillars of long-term growth, assortment expansion, geographical expansion, and demand densification. Going forward, premiumisation through launch of gourmet stores in select locations in top eight cities will also contribute to assortment expansion on the platform, said Albinder Singh Dhindsa, Group CEO, Eternal.

Dhindsa took over as Group CEO after Deepinder Goyal stepped down from the role in Q3 FY26. His answer to the price war has been depth, not discounts. Blinkit’s net order value of Rs 17,132 Cr rose 86.2% YoY from Rs 9,203 Cr. The margin, though, remains thin at 0.6%, which means a single bad quarter of delivery costs could erase it.

How did each Eternal segment perform?

Eternal now reports four distinct businesses, and only two of them make money. Food delivery stayed the profit engine while quick commerce drove volume.

Segment Q1 FY27 Revenue Adjusted EBITDA
Blinkit (quick commerce) Rs 15,664 Cr Rs 102 Cr profit
Zomato (food delivery) Rs 3,100 Cr Rs 606 Cr profit
Hyperpure (B2B supplies) Rs 1,034 Cr Rs 6 Cr profit
District (going out) Rs 318 Cr Rs 62 Cr loss

Food delivery net order value crossed Rs 10,769 Cr, up more than 20% YoY, its fifth consecutive quarter of accelerating growth. Its EBITDA margin reached 5.6% of NOV, delivering Rs 606 Cr in profit, up 34% YoY. District remains the one clear investment bucket, with revenue up 54% but losses widening at the operating line.

Who is winning the quick commerce war?

Blinkit leads India’s quick commerce sector on scale and is the first major player to hold operating profit for a full quarter. Competition has intensified from Amazon and Flipkart, both of which pushed into 10-minute delivery during the quarter.

Player Q1 FY27 NOV Operating status
Blinkit Rs 17,132 Cr EBITDA positive, Rs 102 Cr
Amazon Now Not disclosed Expanding, aggressive pricing
Flipkart Minutes Not disclosed Expanding, aggressive pricing

Dhindsa told analysts that competitive intensity in quick commerce stayed high but had become more predictable. What separates Blinkit is the 2,443-store network, which no rival matches at similar unit economics.

What’s Next

Eternal has guided toward 3,000 dark stores by March 2027, which means roughly 190 net additions a quarter for the next three quarters. The board also approved transferring Nugget by Zomato to wholly-owned subsidiary Carthero Technologies for Rs 350 Cr. Watch the Q2 FY27 print in October 2026 for whether Blinkit’s margin holds above 0.6% during festive discounting. Can a 10-minute delivery business stay profitable through Diwali?

Frequently Asked Questions

What was the Eternal Q1 profit in FY27?
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Eternal reported a consolidated net profit of Rs 92 Cr for Q1 FY27, the quarter ended June 30, 2026. That is a 268% rise from Rs 25 Cr a year earlier. Profit fell 47% sequentially from Rs 174 Cr in Q4 FY26, mainly because of a higher tax expense.

What does Eternal Limited do?
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Eternal Limited is the Gurugram-based parent company of Zomato, Blinkit, District and Hyperpure. It was formerly named Zomato and renamed itself Eternal in 2025. The company operates food delivery, quick commerce grocery delivery, going-out ticketing, and business-to-business restaurant supplies across India.

Is Blinkit profitable now?
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Blinkit posted adjusted EBITDA of Rs 102 Cr in Q1 FY27, against a Rs 162 Cr loss a year ago. This was its third consecutive quarter of operating profit and fifth straight quarter of margin improvement. Margins stood at 0.6% of net order value, which remains thin.

Why did Eternal Q1 profit fall from the previous quarter?
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Net profit fell 47% sequentially mainly because tax expense rose sharply. Operating performance actually improved. Adjusted EBITDA grew 29% quarter-on-quarter to Rs 555 Cr and profit before tax rose from Rs 88 Cr to Rs 272 Cr year-on-year, according to the company filing.

How many dark stores does Blinkit operate?
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Blinkit operated 2,443 dark stores at the end of Q1 FY27, after adding 200 net new stores during the quarter. Management has guided toward 3,000 stores by March 2027. Store expansion is concentrated in the top eight cities plus the next 30 urban markets.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. The analysis above is based on publicly available information and should not be the sole basis for any investment decision. Please consult a SEBI-registered financial advisor before making investment decisions.

Written by Avinash. Have a tip? Write to us at editorial@startupfeed.in.

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Avinash is a dedicated MBA professional with expertise in business operations, team management, and AI-driven content development. Backed by global certifications and published HR research, he leverages innovation and strategic management to drive organizational success.

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