Eternal’s Q1 profit falls 47% QoQ as Blinkit reaches 2,443 stores

Eternal reported Q1 FY27 net profit of ₹92 crore, down 47.1% sequentially, while adjusted revenue rose 173% year on year. Blinkit added 200 net stores, delivered ₹102 crore in adjusted EBITDA profit and is preparing gourmet-store launches across select top-eight-city locations.

— Source publishedWed, 22 Jul, 2026, 20:00 IST·First seen Wed, 22 Jul, 2026, 20:52 IST·Source ET Hospitality

What happened

Eternal reported Q1 FY27 profit of Rs 92 crore, down sequentially but up sharply year-on-year. Blinkit added 200 stores, reached 2,443 outlets and posted

Key facts

  • Q1 FY27 net profit Rs 92 crore, down 47.1% QoQ from Rs 174 crore in Q4 FY26
  • Consolidated net profit up 268% YoY
  • Adjusted revenue Rs 20,648 crore, up 173% YoY
  • Adjusted EBITDA Rs 555 crore, up 223% YoY
  • Quick-commerce NOV Rs 17,132 crore, up 86% YoY
  • Quick-commerce adjusted EBITDA profit Rs 102 crore
  • Blinkit added 200 net stores to reach 2,443
  • Food-delivery NOV Rs 10,769 crore, up over 20% YoY
  • Food-delivery adjusted EBITDA margin 5.6%; profit Rs 606 crore
  • Hyperpure revenue Rs 1,034 crore, up 27% YoY; adjusted EBITDA profit Rs 6 crore

Why this matters

Blinkit’s planned gourmet format across select top-eight-city markets creates partnership and acquisition opportunities in premium grocery, specialty food supply, and urban fulfillment capabilities.

What to watch

  • Blinkit net store additions versus the Q1 pace of 200 stores.
  • Adjusted EBITDA per order and profitability of stores opened in the last 12 months.
  • Gourmet-store launch count, average order value, repeat purchase and inventory-wastage metrics.
  • Competitive store additions, discounting and delivery-fee changes from Zepto, Swiggy Instamart and other rivals.
  • Whether consolidated net profit recovers as quick-commerce expansion costs normalize.
  • Prioritize new Blinkit stores in dense catchments where delivery economics can reach maturity quickly.
  • Use gourmet stores as a controlled top-eight-city pilot, measuring repeat rates, basket expansion, spoilage and contribution margin before broad rollout.
  • Expand high-margin advertising, private-label and premium-brand partnerships to monetize the larger store network.
  • Maintain a clear distinction between mature-store profitability and losses from new-store cohorts to defend investor confidence after the sequential profit decline.