Foodtech and quick commerce platform Eternal (formerly Zomato) delivered a sharp improvement in financial performance during the third quarter of FY26, reporting strong revenue growth alongside a 54% rise in profits, driven largely by its inventory-led quick commerce business.
Revenue triples on Blinkit-led growth
Eternal’s revenue from operations surged three-fold to ₹16,315 crore in Q3 FY26, compared to ₹5,405 crore in the same quarter last year, according to its consolidated financial results filed with the National Stock Exchange.
On a sequential basis, revenue rose 20% from ₹13,590 crore in Q2 FY26, reflecting sustained momentum across its platforms.
The sharp jump in topline was primarily led by the company’s quick commerce arm Blinkit, which continues to operate on an inventory-led model.
Segment-wise performance
Revenue from Eternal’s food delivery business (Zomato) grew 29% year-on-year to ₹2,676 crore in Q3 FY26, accounting for around 16% of total revenue.
Blinkit emerged as the dominant growth engine, with revenue rising 75% year-on-year to ₹12,256 crore, up from ₹1,399 crore in Q3 FY25.
The company’s B2B supplies arm, Hyperpure, reported a modest 7% growth to ₹1,070 crore during the quarter.
Including earnings from the ‘Going-out’ segment and other non-operating income, Eternal’s total revenue stood at ₹16,663 crore in Q3 FY26. For the nine-month period, the group posted cumulative revenue of ₹38,126 crore.
Costs rise, but profitability improves
On the cost side, material costs remained the largest expense, accounting for 59% of total expenditure. This cost rose sharply to ₹9,801 crore in Q3 FY26 from ₹1,500 crore a year ago, in line with Blinkit’s inventory expansion.
Delivery-related charges increased 64% to ₹2,376 crore, while employee benefit expenses rose 33% to ₹914 crore. Advertising and marketing spend nearly doubled to ₹937 crore during the quarter.
Overall expenditure increased nearly three-fold to ₹16,493 crore in Q3 FY26 from ₹5,533 crore in Q3 FY25.
Despite the sharp rise in costs, Eternal’s revenue growth outpaced expenses, resulting in a 54% jump in net profit to ₹102 crore, compared to ₹59 crore in the year-ago quarter. On a unit economics basis, the company spent ₹1.01 to earn every rupee of revenue during the quarter.
Leadership update and market performance
Eternal also informed stock exchanges that founder Deepinder Goyal will step away from his role as Group CEO and continue on the board as Vice Chairman.
At the close of the latest trading session, Eternal’s shares were trading at ₹283, valuing the company at a market capitalisation of ₹3.33 lakh crore (approximately $30 billion).
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