Eternal Ltd. reported a consolidated net profit of Rs 174 crore for the fourth quarter of FY26, beating Bloomberg estimate of Rs 126 crore, as its quick commerce business Blinkit expanded margins and its food delivery segment sustained steady volume growth. Its consolidated adjusted revenue stood at Rs17,680 crore for the quarter, missing Bloomberg estimate of Rs 18,099 crore.
Consolidated adjusted Ebitda came in at Rs 429 crore, marginally below the estimated Rs 431 crore. The company’s B2C net order value (NOV) reached Rs 26,880 crore for the quarter, growing 54.1% year-on-year. Blinkit saw its adjusted Ebitda profit improve to Rs 37 crore in Q4FY26 from Rs 4 crore in the previous quarter, translating to a 0.3% margin as a percentage of NOV.
The unit clocked a net order value of Rs 14,386 crore during the quarter ended March 2026, growing 95.4% year-on-year and 8.2% sequentially. Meanwhile, its food delivery business, Zomato, delivered an adjusted Ebitda margin of 5.5% of net order value, translating to an absolute profit of Rs 532 crore for the quarter.
Food delivery NOV grew 18.8% year-on-year to Rs 9,757 crore. The growth was driven by structural interventions aimed at expanding the addressable market into more price-sensitive segments, including lowering the minimum order value for free delivery on Gold subscriptions to Rs 99 and curating meal assortments under Rs 250. Average monthly transacting customers on Zomato stood at 25.4 million for the quarter.
The company’s going-out business, District by Zomato, saw its adjusted Ebitda losses narrow to Rs 81 crore from Rs 121 crore in the previous quarter. The segment’s NOV stood at Rs 2,736 crore, accelerating to 46.5% year-on-year growth.
Separately, the board approved an asset transfer agreement to move the District platform’s technology stack and select employees to Wasteland Entertainment (WEPL), for Rs 24.19 crore, effective May 1, 2026, to “improve organisational efficiency and unlock further business opportunities.” WEPL is a wholly owned subsidiary Eternal acquired from Paytm.
Hyperpure, the company’s B2B restaurant supplies business, posted its second consecutive quarter of profitability with an adjusted Ebitda of Rs 5 crore versus Rs 1 crore in the previous quarter. The business recorded an adjusted revenue of Rs 978 crore.
The company’s cash balance stood at Rs 17,972 crore at the end of March 2026, up from Rs 17,820 crore in the previous quarter. For the full year FY26, consolidated revenue stood at Rs 54,364 crore, up 168.5% from Rs 20,243 crore in FY25, again largely reflecting the quick commerce model shift.
Full-year net profit fell to Rs 366 crore from Rs 527 crore in FY25, with the decline driven by higher depreciation, finance costs and share-based payment expenses tied to the rapid expansion of Blinkit and the integration of the going-out business.
In the company’s shareholder letter released alongside the Q4 results, Eternal founder Deepinder Goyal outlined the company’s long-term financial targets, saying he expects the company to reach $1 billion in adjusted Ebitda, “hopefully by FY29.”
Goyal noted that while it took the company 18 years to reach the $10 billion annual net order value (NOV) mark, and 16 years to achieve adjusted Ebitda profitability in FY24, the foundation now in place will accelerate future compounding. Goyal expects NOV to double to $20 billion in less than two years.