Eternal’s Q2 FY26 revenue jumps 183% YoY to ₹13,590 crore
Net profit falls 63% YoY to ₹65 crore due to rising expenses
Food delivery NOV rises 14% YoY, slightly improving from previous quarter
Eternal, the parent company of food delivery platform Zomato and quick commerce platform Blinkit, reported nearly a three-fold jump in its revenue for the quarter ending September 2025, according to an exchange filing on Thursday. However, rising expenses led to a decline in the company’s net profit.
The Deepinder Goyal-led company saw 183% a rise (year-on-year) in the operating revenue at ₹13,590 crore during the quarter under review. However, its net profit fell 63% (y-o-y) to ₹65 crore, as compared to ₹176 crore in the September quarter of financial year ending March 2025.
The food delivery’s net order value (NOV) grew 14% year-on-year, showing a slight improvement over the 13% YoY growth recorded in the previous quarter.
The growth rate appears to have bottomed out in Q1 FY26 and is beginning to recover, albeit gradually. The company continues to remain comfortably within its long-term guidance range, maintaining an Adjusted EBITDA margin of 5.0–6.0% as a percentage of net order value (NOV).
Quick Commerce Biz
Its quick commerce arm saw the net order value NOV) accelerated to 137% (y-o-y), the highest in the last ten quarters. Blinkit has also added 272 new stores during the second quarter of FY26, taking the total store count to 1,816 so far.
The company further aims to get 2,100 stores by December 2025, as compared to the previous guidance of 2,000 stores. And by March 2027, Blinkit is expected to get 3,000 stores in total across the country.
The platform’s transition to inventory ownership in quick commerce almost complete with approximately 80% of net order value in Q2 FY26 on own inventory model.
“We have been maintaining our quarterly rate of net store additions consistently for the last few quarters, and given what we know today, we think we should be able to get to 3,000 stores by Mar 2027," said Albinder Dhindsa, founder & CEO, Blinkit.
District Biz
The company has added a new category, ‘Stores’, was added on the District platform, which was also launched in the UAE. "We have already onboarded ~3,400 outlets across six cities and have enabled 60,000+ transactions till date. Early traction is promising, and we plan to continue scaling this segment," Deepinder Goyal, founder & CEO, Eternal.
According to Goyal, the company's customer base continues to expand rapidly which is giving him the confidence to continue investing in building District as the one-stop destination in India for discovering multiple going-out use-cases
“We chose to expand live events in the UAE because it is a global hub for outdoor entertainment and can potentially turn out to be an attractive market for us...we will continue to invest in category building here and expect quarterly losses to remain rangebound around current levels," he added.
