Eternal Ltd. reported consolidated adjusted revenue of Rs 16,692 crore for Q3FY26, beating Bloomberg estimates of Rs 16,224 crore, as its quick commerce business Blinkit achieved adjusted EBIDTA breakeven for the first time, and food delivery showed record margin expansion.
The company’s consolidated adjusted EBITDA came in at Rs 364 crore, ahead of the Rs 333 crore estimated by analysts polled by Bloomberg. However, net profit of Rs 102 crore missed estimates of Rs 115 crore. The company’s B2C net order value crossed Rs 25,700 crore for the quarter, growing 55% year-on-year.
Blinkit Achieves Breakeven
Blinkit, the company’s quick commerce arm, swung to an adjusted EBITDA profit of Rs 4 crore in Q3FY26 from a loss of Rs 156 crore in the previous quarter. The unit clocked net order value of Rs 13,300 crore, during the quarter ended December 2025, growing 121% annually, and 14% sequentially.
Meanwhile, its food delivery business, Zomato, delivered its highest-ever adjusted EBITDA margin of 5.4% of net order value (NOV), translating to a profit of Rs 531 crore for the quarter.
NOV grew 16.6% year-on-year to Rs 9,846 crore, accelerating from 13.8% growth in the previous quarter and marking the second consecutive quarter of improvement, after bottoming in Q1FY26.
The uptick in food delivery was driven by a modest improvement in demand, particularly in the second half of the quarter, the full-quarter impact of lowering minimum order values for free delivery on Gold subscriptions to Rs 99 from Rs 199, and continuing customer activation investments, the company said. Average monthly transacting customers on Zomato grew 21% annually to 24.9 million.
Going Out Expansion
The company’s going-out business, District by Zomato, which includes dining-out and entertainment ticketing, saw losses widen to Rs 121 crore from Rs 63 crore in the previous quarter as the company invested in new live entertainment properties and launched District Pass, a membership program offering benefits across movies and dining.
The segment’s NOV stood at Rs 2,587 crore, growing 20% year-on-year. The company said it expects District losses to reduce sequentially toward breakeven in the next 4-6 quarters, maintaining its target of the business reaching $3 billion in NOV with 5% adjusted EBITDA margin by FY30.
Hyperpure, the company’s B2B restaurant supplies business, turned adjusted EBITDA profitable for the first time with a profit of Rs 1 crore versus a loss of Rs 5 crore in the previous quarter. The business grew 33% year-on-year and 7% sequentially.
The company’s cash balance stood at Rs 17,820 crore at the end of December 2025, down from Rs 18,314 crore in the previous quarter, primarily due to investments in capital expenditure and net working capital for the quick commerce business.