Eternal’s consolidated net profit soars to ₹92 crore, NOV jumps by 56 per cent

Eternal Ltd, which owns Zomato and Blinkit, reported a consolidated net profit of ₹92 crore in the June quarter nearly 3.7 times rise over ₹25 crore in the corresponding quarter in the previous fiscal aided by strong revenue growth of its quick commerce business.Consolidated revenue from operations in the first quarter of FY27 soared to ₹20,211 crore as compared to ₹7,167 crore in the year-ago period.

At a consolidated level, B2C Net Order Value grew 54 per cent year-on-year to ₹31,120 crore. Net order value of the food delivery business grew 20 per cent y-o-y to ₹10,769 crore while net order value of the quick commerce business grew 86 per cent to ₹17,132 crore. The company said that 200 net new dark stores were added during the quarter taking the total count to 2,443. Meanwhile, District’s NOV growth accelerated to 60 per cent year-on-year to ₹3,218 crore

Albinder Singh Dhindsa, Group CEO, Eternal said that the company expects NOV growth of its quick commerce business of Blinkit to “remain robust.” “It was largely seasonality and the NOV growth was on expected lines. We continue to focus our efforts on our three pillars of long-term growth - assortment expansion, geographical expansion, and demand densification. This quarter, we continued to make progress on assortment expansion in the top eight cities and geographic expansion in the next 30,” he said. Dhindsa added that going forward, premiumisation through launch of ‘gourmet’ stores in select locations in top eight cities will also contribute to assortment expansion on the platform.

He added that Blinkit has not seen “any visible impact” as of now of fuel and raw material cost inflation. “Input costs across select raw materials are beginning to witness some inflationary pressure but that has not impacted production volumes or supply from brands so far,” Dhindsa noted. Noting that quick-commerce is not an asset light business, the company pointed out that it is currently operating about 19 million sqft. of store and warehousing space across 300+ cities. The company also said that it has made investments of about ₹3,000 crore over the past four years to build its quick commerce network.

Commenting on competition to Zomato from new players Toing and Ownly, Eternal, Founder, Deepinder Goyal said, “The impact has been limited. These platforms are offering the same restaurants, similar or longer delivery times, and lower menu prices funded by lower commissions and delivery fee - making the revenue gap even more unsustainable. There’s no new use case being unlocked here.” The customer traction is purely price-driven, and price-driven traction without structural economics tends to resolve itself, he added.

“We’ve responded where needed and we’ll adapt if something changes. But we’re not spending much energy on this. What we are spending energy on is Bistro - which is our answer to the question these platforms are pretending to solve,” he added.