Eternal, the parent company of Zomato and Blinkit, reported a 92.3% year-on-year (YoY) rise in net profit in the second quarter of FY27, while revenue grew 78% YoY. However, the company missed analysts’ estimates, which had projected a net profit of Rs 250 crore.
Eternal’s net profit for the second quarter of FY27 stood at Rs 125 crore, compared with Rs 65 crore in the same period a year ago. Revenue rose to Rs 24,138 crore from Rs 13,590 crore in the corresponding quarter of the previous fiscal year.
The quick commerce segment, Blinkit, continued to be a key revenue contributor, with revenue reaching Rs 19,152 crore in the second quarter of FY27.
According to Eternal, Blinkit’s net order value (NOV) grew 79.3% year-on-year (YoY). The quick commerce platform added 308 new stores, taking its total store count to 2,751. Its adjusted EBITDA improved for the sixth consecutive quarter, reaching 0.9% of NOV and translating into a profit of Rs 184 crore, compared with a loss of Rs 156 crore in the year-ago period.
Eternal said it expects Blinkit’s store count to exceed 3,500 by March 2027 and potentially reach 5,000 by March 2028.
On the quick commerce business, Eternal Group CEO Albinder Singh Dhindsa said, “How we grow matters as much as how fast. Each of our stores has a finite capacity to serve. A customer who shows up only for a deep discount uses the same capacity as one who orders every week across categories. We could add customers much faster by leaning on price, but those customers usually leave when the discount ends.”
The food delivery business Zomato saw its NOV grow by 21.5% YoY and the company said growth acceleration is now continuing for five consecutive quarters.
On the performance of the food delivery business, Eternal Founder Deepinder Goyal said “We're happy with how the business is doing right now. That said, we try not to read too much into any single quarter. Our long-term expectation for food delivery has always been 20%+ annual growth, and the last two quarters have brought us back to that range. This view didn't change last year when growth slowed, and it doesn't change now that it has picked up.”
Edited by Megha Reddy