Workers efficiently move goods and prepare deliveries in a bustling quick commerce dark store.
Bengaluru: Eternal’s financial performance in the fourth quarter of FY26 showcased a substantial surge in both profits and revenues, with its quick commerce subsidiary, Blinkit, emerging as the primary growth engine. However, rising operational expenses and a fluctuating performance in its ‘going-out’ business segment presented challenges.
For Q4 FY26, Eternal announced a consolidated net profit of ₹174 crore, marking a 4.5-fold increase year-on-year. Operating revenues skyrocketed by 196% year-on-year to ₹17,292 crore. This growth was significantly influenced by an ‘other income’ of ₹342 crore, which played a crucial role in maintaining profitability amidst a near-parallel rise in total expenses, which zoomed 185% year-on-year to ₹17,406 crore.
Blinkit was the star performer, with its revenues soaring 674% year-on-year to ₹13,232 crore. The company attributed this to the addition of 216 new dark stores and a 95% year-on-year increase in net order value (NOV).
The food delivery vertical, Zomato, demonstrated stable momentum, with revenue and adjusted EBITDA showing improvements, supported by a focus on affordable meal options and sustained unit economics. The company characterized the recent LPG shortage as a temporary disruption, with platform-level throughput remaining unaffected.
The ‘going-out’ business, referred to as District, experienced a ‘lumpy’ quarter, with modest year-on-year revenue growth due to fluctuating ticketing demand. Despite this, Eternal reiterated its long-term guidance of achieving $150 million in adjusted EBITDA for District by FY30. To enhance efficiency and unlock opportunities, the company is transferring the tech stack and employees of District to a wholly-owned subsidiary.
In other company news, quick home services startup Snabbit successfully raised $56 million in its Series D funding round. The capital will be used to introduce new service categories and expand its presence to 250-300 micromarkets within the next 12-18 months. Founded in 2024, Snabbit offers on-demand domestic help, aiming to scale its operations significantly.
The report also highlighted the strategic moves of other companies in the tech and finance sectors. Cashify reported crossing ₹1,000 crore in revenue for FY26, with profitability, and is reportedly preparing for an IPO. Used car marketplace Spinny has engaged investment bankers for a potential IPO by Q1 CY27. Insurtech firm GoDigit reported a 28.8% year-on-year increase in net profit to ₹149.4 crore for Q4 FY26. Additionally, Peak XV has reportedly exited its investment in fintech firm MobiKwik via a ₹133 crore block deal, shortly after MobiKwik received its NBFC license from the RBI. E-commerce enablement company Unicommerce is planning acquisitions and AI-led product development for FY27 to navigate increasing e-commerce complexities.
The article also featured a startup spotlight on Dodge AI, which is developing AI agents to automate ERP maintenance for large enterprises, and an infographic detailing the growth trajectory of D2C menswear brand Snitch.
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