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Eternal’s Q1 Profit Slumps 90% as Blinkit Overtakes Food Delivery and Fuels Stock Rally

With operating revenue up 70% on Blinkit’s rapid expansion, the company transitions to an inventory-led model to bolster margins

Eternal share: CLSA, Jefferies, MOFSL, Nuvama see up to 45% upside as QC losses peak
Zomato's odd listing by one-dish restaurants in Chandigarh | Image: X

Overview

  • Eternal’s Q1 FY26 net profit fell 90% to Rs 25 crore from Rs 253 crore as the company maintained heavy reinvestment in its businesses.
  • Operating revenue climbed 70% to Rs 7,167 crore, but adjusted EBITDA declined 42% to Rs 172 crore on increased spending in quick commerce and the going-out segment.
  • Blinkit’s net order value jumped 127% year-on-year to Rs 9,203 crore, overtaking the food delivery NOV for the first time.
  • The quick commerce arm added 243 dark stores to reach 1,544 locations and is shifting to an inventory-led model to support long-term margin gains.
  • Shares rallied over 7% to a 52-week high after the earnings release, with brokerages lifting target prices and forecasting margin recovery.