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3h ago

Eternal Q2: Revenue Soars on Blinkit Shift as Net Profit Drops 63%

Blinkit's switch to an inventory-led model lifted reported sales, with expansion spending continuing to weigh on earnings.

Eternal Q2 FY26 Results
Revenue from operations, however, zoomed 183.18 per cent to Rs 13,590 crore in Q2 FY26 from Rs 4,799 crore in the year-ago period.

Overview

  • Consolidated revenue rose to Rs 13,590 crore from Rs 4,799 crore a year earlier, topping the ~Rs 8,665 crore consensus estimate.
  • Net profit fell to Rs 65 crore from Rs 176 crore year on year, missing the ~Rs 108 crore forecast as higher inventory and investments pressured the bottom line.
  • Blinkit’s topline jumped about 8.5x to Rs 9,891 crore following the 1P transition, while food delivery revenue grew 23.5% and Hyperpure declined to Rs 1,023 crore.
  • On adjusted metrics, the group delivered over Rs 500 crore in adjusted EBITDA with a record 5.3% margin on NOV; Blinkit’s adjusted EBITDA loss narrowed to Rs 156 crore with margin at -1.3% of NOV.
  • Blinkit added 272 net stores to reach 1,816 locations, with targets of roughly 2,100 stores by December 2025 and 3,000 by March 2027.