Eternal Misses Profit Estimates Despite Strong Revenue Growth

Eternal, the parent company of Zomato and Blinkit, reported a nearly four-fold increase in its first-quarter net profit to ₹920 million. However, the earnings fell short of analysts’ expectations as intense competition and continued investments in its quick-commerce business, Blinkit, put pressure on profit margins.

The company said competition in the quick-commerce segment remains strong but has become more predictable. Rather than competing mainly on pricing, Eternal is focusing on expanding its product range, geographic reach, and supply chain infrastructure. During the quarter, Blinkit added 200 new dark stores, taking its total network to 2,443 stores, while its net order value surged 86%.

Eternal’s quarterly revenue rose more than 2.5 times year-on-year to ₹202.11 billion, although it was slightly below market estimates. The company’s food delivery business also recorded a 20% increase in net order value, reflecting steady demand despite rising competition from major players in India’s rapidly growing quick-commerce market.

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