Eternal Ltd Q1 FY27: Net profit drops 47% to ₹92 crore QoQ; revenue surges 173% YoY
Synopsis
Eternal Limited's Q1 FY27 numbers tell two stories at once: a 47% sequential profit drop that will grab headlines, and a 268% year-on-year surge that shows how far the Zomato parent has travelled. With Blinkit at 2,443 stores, Hyperpure finally in the black, and gourmet expansion on the horizon, Eternal is betting its multi-vertical flywheel is just getting started.
Key Takeaways
Eternal Limited reported a 47.1 per cent QoQ decline in net profit to ₹92 crore in Q1 FY27 , down from ₹174 crore in Q4 FY26.
Year-on-year, consolidated net profit surged 268 per cent ; adjusted revenue rose 173 per cent YoY to ₹20,648 crore .
Blinkit quick commerce NOV grew 86 per cent YoY to ₹17,132 crore , with 200 new stores added, taking the network to 2,443 stores .
Food delivery NOV crossed ₹10,769 crore (up over 20 per cent YoY ), with adjusted EBITDA margin at 5.6 per cent .
Hyperpure revenue grew 27 per cent YoY to ₹1,034 crore , swinging to a ₹6 crore adjusted EBITDA profit from a loss a year ago.
Eternal plans 'gourmet' store launches in select locations across the top eight cities as part of its premiumisation strategy.
Eternal Limited, the parent company of Zomato, on 22 July 2025 reported a sharp 47.1 per cent quarter-on-quarter decline in consolidated net profit to ₹92 crore in Q1 FY27 (April–June 2025), down from ₹174 crore in Q4 FY26. Despite the sequential dip, the company posted a robust 268 per cent year-on-year surge in net profit, underscoring the scale of its turnaround over the past year.
Revenue and EBITDA Performance
Consolidated adjusted revenue for Q1 FY27 climbed 173 per cent year-on-year to ₹20,648 crore, while adjusted EBITDA jumped 223 per cent YoY to ₹555 crore. The numbers reflect strong operating leverage across Eternal's portfolio of businesses, even as sequential profitability moderated.
Quick Commerce and Blinkit Lead Growth
Blinkit, Eternal's quick commerce arm, recorded net order value (NOV) growth of 86 per cent year-on-year to ₹17,132 crore. The segment delivered an adjusted EBITDA profit of ₹102 crore and posted its fifth consecutive quarter of margin improvement. Blinkit also added 200 net new stores during the quarter, expanding its network to 2,443 stores, with continued investment in assortment, geography, and demand densification.
Group CEO Albinder Singh Dhindsa outlined the company's strategic priorities: 'We continue to focus our efforts on our three pillars of long-term growth — assortment expansion, geographical expansion, and demand densification. Going forward, premiumisation through launch of 'gourmet' stores in select locations in top eight cities will also contribute to assortment expansion on the platform. These gourmet stores offer our customers the ability to buy curated premium brands across categories.'
Food Delivery Holds Steady
Eternal's food delivery business reported NOV of ₹10,769 crore, growing more than 20 per cent year-on-year. Adjusted EBITDA margin improved to 5.6 per cent, generating a profit of ₹606 crore for the segment — signalling that the core business continues to mature even as quick commerce scales aggressively.
Hyperpure Turns Profitable
Hyperpure, Eternal's B2B restaurant supplies vertical, posted revenue growth of 27 per cent year-on-year to ₹1,034 crore and reported a positive adjusted EBITDA of ₹6 crore, reversing a loss recorded in the corresponding quarter of the previous year. The turnaround marks a meaningful milestone for a business long seen as a strategic but loss-making support unit.
Founder's Take on Growth vs Margins
Founder Deepinder Goyal addressed the growth-versus-profitability debate directly: 'If we're doing our job well, growth and margins should compound together — because growth in this business comes from making the platform more useful to more people, which drives frequency, which drives density, which drives efficiency. The flywheel doesn't ask you to choose.'
With gourmet store launches planned across the top eight cities and continued dark-store expansion, Eternal's next few quarters will test whether its multi-vertical flywheel can sustain margin improvement while absorbing heavy capital deployment.
Point of View
But it obscures a more important signal: Eternal is now a fundamentally different business than it was a year ago. A 268% YoY profit jump and 173% revenue growth are not noise — they reflect genuine operating scale. The real question is whether Blinkit's margin trajectory can withstand the cost of 200-store-per-quarter expansion while Eternal simultaneously funds gourmet retail and Hyperpure. The flywheel logic Deepinder Goyal describes is coherent, but flywheels are expensive to spin up, and Indian quick commerce remains a market where deep-pocketed rivals are not standing still.
NationPress
22 Jul 2026
Frequently Asked Questions
Why did Eternal Limited's net profit fall in Q1 FY27?
Eternal's net profit declined 47.1 per cent quarter-on-quarter to ₹92 crore in Q1 FY27, compared to ₹174 crore in Q4 FY26, primarily reflecting sequential cost pressures and continued investment in expansion. On a year-on-year basis, however, net profit surged 268 per cent, indicating strong underlying growth.
How did Blinkit perform in Q1 FY27?
Blinkit's quick commerce net order value grew 86 per cent year-on-year to ₹17,132 crore in Q1 FY27, delivering ₹102 crore in adjusted EBITDA profit. The segment also recorded its fifth consecutive quarter of margin improvement and added 200 new stores, taking its total network to 2,443 stores.
What is Eternal Limited's revenue for Q1 FY27?
Eternal Limited reported consolidated adjusted revenue of ₹20,648 crore in Q1 FY27, a 173 per cent increase year-on-year. Adjusted EBITDA rose 223 per cent YoY to ₹555 crore over the same period.
What is Eternal's gourmet store strategy?
Eternal plans to launch 'gourmet' stores in select locations across the top eight cities in India as part of its premiumisation drive. According to Group CEO Albinder Singh Dhindsa, these stores will offer curated premium brands across categories, contributing to assortment expansion on the platform.
How did Hyperpure perform in Q1 FY27?
Hyperpure, Eternal's B2B restaurant supplies business, grew revenue 27 per cent year-on-year to ₹1,034 crore and reported a positive adjusted EBITDA of ₹6 crore in Q1 FY27, reversing a loss posted in the same quarter last year.
