There are moments in the business world that make you sit up and pay attention. Eternal Q1 Results is one such moment. The company we once knew as Zomato has not only changed its name to Eternal but also its vision. The Q1 results of FY 2025-26 made one thing very clear—Eternal is no longer just a food delivery platform. It is now aiming for something much bigger.
The most talked-about part of the results is the company’s deep focus on quick commerce. This includes instant delivery of essentials like groceries, snacks, and even personal care products. While Zomato had already acquired Blinkit, this quarter showed how serious Eternal is about making quick commerce a key pillar of its business.
A Massive Revenue Jump: 70% Year-on-Year Growth
One of the biggest highlights of the Q1 report is the massive 70% jump in revenue compared to the same quarter last year. Eternal earned over ₹7,100 crore in revenue this quarter. That’s not just a number—it’s a statement. It shows how much the company has grown in a short span and how wide its reach has become.
This kind of revenue surge doesn’t happen overnight. It’s the result of strong execution across various segments: food delivery, Blinkit’s grocery delivery, dining-out services, and its B2B platform Hyperpure. Each vertical played its role in boosting Eternal’s top line.
Blinkit Outshines Zomato in Orders
Here comes the biggest surprise: Blinkit, Eternal’s quick commerce arm, actually delivered more in order value than the core food delivery business.
Yes, for the first time ever, the value of items sold on Blinkit was more than that of Zomato’s food delivery. That alone tells us how Indian consumers are changing. People now want groceries, snacks, and everyday items delivered in 10-20 minutes. And Eternal is meeting that demand aggressively.
Blinkit’s gross order value grew over 125% compared to last year. Its number of dark stores increased to more than 1,500—up from around 1,300 just a few months ago. These “dark stores” are not open to the public. They are small storage hubs placed inside neighborhoods so deliveries can happen super fast.
The company wants to take that number to 2,000 by the end of this year. Clearly, the focus is on scale, speed, and consumer convenience.
Profit Falls Sharply – But That’s Part of the Plan
Now let’s talk about the elephant in the room.
Despite high revenues, Eternal’s net profit dropped nearly 90%, down to just ₹25 crore. On the surface, this looks bad. But when you dig deeper, it starts to make sense.
The company is spending heavily—especially on Blinkit. Setting up new dark stores, hiring delivery workers, offering discounts, managing logistics—all of this takes a lot of money. These investments eat into profits, at least for now.
But this is a calculated loss. Eternal is choosing to burn cash today so it can build dominance tomorrow. Blinkit may not be highly profitable yet, but it is becoming India’s fastest-growing quick commerce brand.
Food Delivery Still Going Strong
Even though Blinkit stole the spotlight, Zomato’s traditional food delivery business is still doing well. Orders are growing steadily, and the average order value is going up. More people are ordering food online than ever before.
This steady growth shows that food delivery is still a solid and reliable part of Eternal’s business. It may not be growing as fast as Blinkit, but it’s stable—and profitable.
New Leadership Structure Brings Fresh Ideas
In another big move, Eternal changed its leadership style. Instead of having one fixed CEO for each business, the company is now rotating top leaders every few years.
For example, Aditya Mangla, who used to work in product and engineering, is now leading the food delivery business. This rotating leadership model brings fresh thinking and gives high-performing employees a chance to prove themselves.
It’s an unusual move in Indian startups, but one that shows how Eternal is willing to experiment and evolve.
Hyperpure and Going-Out Business Expand Slowly
Eternal also runs Hyperpure, which supplies raw materials to restaurants. This part of the business saw decent growth. The going-out vertical, which includes restaurant bookings and dine-out discounts, is growing slowly but steadily.
While not as exciting as Blinkit or Zomato food delivery, these businesses are important. They add strength to the overall ecosystem and offer long-term potential.
Share Price Reacts Positively
Despite the big fall in net profit, investors were actually happy. Why? Because they believe in the long-term story. Eternal’s share price jumped over 7% after the results were announced.
Markets understood the strategy: short-term pain for long-term gain. Blinkit’s growth, revenue surge, and strong execution showed that the company is on the right path.
Costs Rise, But for a Good Reason
As expected, Eternal’s expenses rose sharply. Total costs were more than ₹7,400 crore, higher than the revenue itself. But most of this went into building Blinkit and growing the company’s footprint.
This shows that Eternal is not sitting still. It is using its cash to grow, expand, and capture the market before competitors catch up.
What Makes Eternal Different Now
If we look closely, Eternal is no longer the same company it was a year ago. It’s becoming a multi-business platform. Food, groceries, dining out, restaurant supplies—it wants to be involved in every part of the food ecosystem.
This change is bold, risky, and exciting. And the Q1 results prove that the transformation has begun.
Challenges Ahead
Of course, the journey isn’t without problems. Quick commerce is a tough business. Margins are thin, delivery speed is crucial, and customer loyalty is low. Eternal has to find ways to reduce losses in Blinkit over time.
Also, competition is heating up. Swiggy, Zepto, Amazon, Flipkart—they’re all trying to win the quick commerce game. Eternal must keep innovating to stay ahead.
What to Expect Next
Looking ahead, Eternal plans to grow Blinkit even more. It will also start owning more inventory instead of just acting as a middleman. That gives more control but also increases complexity.
The company is aiming for 5-6% operating margins in the long run, especially from Blinkit. If they manage to do that while growing fast, Eternal could become a giant in India’s commerce space.
Final Thoughts: A Brave New Journey
Eternal’s Q1 report is not just about numbers—it’s about direction. The company is choosing to grow aggressively, even if it means short-term losses. It’s betting big on Blinkit, trusting that Indians want groceries delivered in minutes.
It’s also making smart changes in leadership, structure, and strategy.
This quarter showed that Eternal is no longer just a food delivery app. It’s evolving into a digital ecosystem—fast, flexible, and full of ambition.
Investors, customers, and even competitors will be watching closely.
Because when a company dares to reinvent itself, the story is never boring.
