Eternal Q1 Results: Revenue Surges to ₹20,211 Crore, Profit Jumps 3.7x to ₹92 Crore as Blinkit Leads Growth

Eternal Ltd. (formerly Zomato) reported a strong Q1 FY27 performance, with revenue from operations surging 182% year-on-year to ₹20,211 crore, driven primarily by the rapid expansion of its Blinkit quick commerce business. The company also posted a 3.7-fold increase in consolidated net profit, reflecting continued growth across its consumer businesses and improving operating profitability.

The company's performance highlights the growing dominance of quick commerce within its business model. Blinkit remained the largest contributor to revenue and also turned EBITDA positive, while the food delivery business continued to deliver healthy profit growth. Brokerage Kotak Institutional Equities maintained its Buy rating on the stock, citing sustained momentum in quick commerce.

Eternal Q1 FY27 Financial Highlights

For the quarter ended June 30, 2026, Eternal reported revenue from operations of ₹20,211 crore, compared with ₹7,167 crore in the corresponding quarter last year.

Total income increased to ₹20,586 crore, while consolidated net profit rose to ₹92 crore. On a sequential basis, revenue increased 17% from ₹17,634 crore reported in Q4 FY26.

Q1 FY27 Financial Performance

Metric	Q1 FY27	Q1 FY26	YoY Change
Revenue from Operations	₹20,211 crore	₹7,167 crore	+182%
Total Income	₹20,586 crore	-	-
Net Profit	₹92 crore	~₹25 crore	3.7X
QoQ Revenue Growth	17%	-	-

Blinkit Emerges as the Largest Revenue Contributor

Quick commerce continued to be the biggest growth engine for Eternal during the quarter.

Blinkit generated ₹15,664 crore, accounting for 77.5% of the company's total operating revenue.

Meanwhile, the Zomato food delivery business reported revenue of ₹3,100 crore, registering 37% year-on-year growth.

The company's District business also recorded strong expansion, while Hyperpure witnessed a sequential decline.

Segment-wise Revenue

Business Segment	Revenue	YoY/QoQ Performance
Blinkit	₹15,664 crore	Largest contributor (77.5% of revenue)
Food Delivery (Zomato)	₹3,100 crore	+37% YoY
Hyperpure	₹1,034 crore	-55% QoQ
District	₹318 crore	+54%

Expense Breakdown

Higher business activity led to an increase in operating expenses during the quarter.

Material costs remained the largest expense component, accounting for nearly 59% of total expenditure.

Delivery, employee, and advertising expenses also increased as the company continued expanding its quick commerce network.

Major Expenses

Expense Head	Q1 FY27
Material Cost	₹12,031 crore
Delivery Expenses	₹3,150 crore
Employee Benefit Expenses	₹1,068 crore
Advertising & Marketing	₹945 crore
Total Expenditure	₹20,314 crore

EBITDA Performance Across Businesses

The company's core businesses continued to improve profitability.

The food delivery business generated EBITDA of ₹621 crore, while Blinkit turned EBITDA positive during the quarter after reporting losses in the corresponding period last year.

Segment EBITDA

Business	EBITDA
Food Delivery	₹621 crore
Blinkit	₹365 crore
District	-₹62 crore

Profitability Improves

Eternal's consolidated net profit increased to ₹92 crore, supported by:

• Strong revenue growth.
• Positive operating leverage.
• Improved profitability in Blinkit.
• Higher non-operating income.

The company continues to benefit from the rapid adoption of quick commerce while maintaining healthy growth in its food delivery platform.

Brokerage View

Ahead of the quarterly results, Kotak Institutional Equities reiterated its Buy recommendation on Eternal.

The brokerage expects the company's quick commerce business to remain the primary growth driver and believes Blinkit's improving profitability strengthens the long-term investment case.

Brokerage Summary

Brokerage	Rating	Key View
Kotak Institutional Equities	Buy	Strong outlook driven by Blinkit's growth and improving profitability

Eternal Share Price

At the close of trading on July 22, 2026, Eternal shares ended at ₹289.50, giving the company a market capitalization of approximately ₹2.79 lakh crore.

Stock Snapshot

Metric	Value
Share Price	₹289.50
Market Capitalisation	₹2.79 lakh crore

Key Positives

• Revenue increased 182% year-on-year.
• Net profit rose 3.7X.
• Blinkit contributed 77.5% of revenue.
• Food delivery revenue grew 37%.
• Blinkit turned EBITDA positive.
• Kotak maintained a Buy rating.

Key Risks

• Hyperpure revenue declined sequentially.
• Operating expenses continued to rise.
• District business remained EBITDA negative.
• Sustaining Blinkit's rapid growth remains crucial.

What was Eternal's Q1 FY27 revenue?

Eternal reported revenue from operations of ₹20,211 crore, up 182% year-on-year.

What was Eternal's Q1 FY27 net profit?

The company posted a net profit of ₹92 crore, representing a 3.7-fold increase from the corresponding quarter last year.

Which business contributed the most revenue?

Blinkit was the largest contributor, generating ₹15,664 crore, or 77.5% of total revenue.

Did Blinkit become profitable?

Yes. Blinkit reported positive EBITDA of ₹365 crore, compared with an EBITDA loss in the corresponding quarter last year.

What is Kotak's view on Eternal?

Kotak Institutional Equities maintained its Buy rating, citing continued strength in the company's quick commerce business.