Eternal Q2 profit rises 92% to Rs 125 crore as Blinkit turns EBITDA positive
Eternal, parent of Zomato and Blinkit, posted higher profit and revenue, and raised its Blinkit store target to 3,500 by March 2027.
The 30-second read
- Eternal reported Q2 FY27 consolidated net profit of Rs 125 crore, a 92% rise on the Rs 65 crore it made in the same quarter last year.
- Blinkit's adjusted EBITDA swung to a profit of Rs 184 crore, from a Rs 156 crore loss in the year-earlier quarter.
- Blinkit now has 2,751 stores and expects to cross 3,500 by March 2027, up from an earlier goal of 3,000.
Eternal, the Gurugram-based parent of Zomato and Blinkit, posted a Q2 FY27 consolidated net profit of Rs 125 crore. That figure is 92% higher than the Rs 65 crore booked in the year-ago quarter, and 36% above the Rs 92 crore of the June quarter. Revenue from operations was Rs 24,138 crore, up about 78% from Rs 13,590 crore, and up 19% from Rs 20,211 crore in the previous quarter. Indian Startup News and MediaNama reported the numbers.
Most of the revenue jump comes from Blinkit moving to an inventory-led, first-party model, so revenue now counts the full value of goods and not just commission. Adjusted revenue grew 76% to Rs 24,621 crore, and like-for-like growth was 58%. Blinkit's adjusted EBITDA came in at a profit of Rs 184 crore, a swing from the Rs 156 crore loss it recorded in the year-earlier quarter. It added 308 net new stores to reach 2,751. It expects to cross 3,500 by March 2027, against an earlier goal of 3,000. Indian Startup News first reported a longer-term aim of about 5,000 stores by March 2028. Albinder Dhindsa, Blinkit founder and CEO of Eternal, who succeeded Deepinder Goyal, said: "We don't want to become both the platform and a competitor to the brands on the platform".
In food delivery, NOV was Rs 11,445 crore, up 21.5%, and adjusted EBITDA was Rs 627 crore, up 25%. The sources differ on food delivery revenue. Indian Startup News reported Rs 3,396 crore, up 37%. MediaNama reported Rs 3,879 crore, up 35% year on year. Profit grew slower than profit before tax because Eternal now provides tax on business income, as the parent's carried-forward losses will be used up this year. Deepinder Goyal, founder of Eternal, leads dark.ai, a privacy-focused AI assistant with a global launch expected within 2026. Rival Swiggy Instamart had 1,171 dark stores and an adjusted EBITDA loss of Rs 778 crore in the June quarter.
Why it matters
Blinkit's move to profit while adding stores shows quick commerce can scale in India without losing money on each step. Its push into smaller cities, with 37 million monthly transacting customers, points to where growth may come from next.
The data
| Metric | Q2 FY27 | Comparison |
|---|---|---|
| Net profit | Rs 125 crore | Rs 65 crore a year earlier |
| Net profit (QoQ) | Rs 125 crore | Rs 92 crore in June quarter |
| Revenue from operations | Rs 24,138 crore | Rs 13,590 crore a year earlier |
| Blinkit adjusted EBITDA | Rs 184 crore | Loss of Rs 156 crore in the year-earlier quarter |