Blinkit tops Zomato in order value as Eternal posts strong Q1 growth
Zomato
's core food delivery business in net order value for the first time, marking a key shift in the business composition of Eternal Ltd, the listed parent of Zomato, Blinkit, Hyperpure and event-ticketing arm District.
The company reported a 70% year-on-year rise in consolidated revenue to Rs 7,167 crore for the quarter ended June 30, 2025, driven largely by the growth of its quick commerce vertical.
The company posted a net profit of Rs 25 crore, down 90% from Rs 253 crore a year earlier, due to higher investments in Blinkit and other emerging verticals. Adjusted Ebitda declined 42% year-on-year to Rs 172 crore.
Revenue from Blinkit more than doubled to Rs 2,400 crore during the quarter, while Zomato's food delivery business grew 16% to Rs 2,261 crore.
Blinkit's net order value (NOV) rose 127% year-on-year to Rs 9,203 crore, slightly surpassing Zomato's Rs 8,967 crore. This is the first quarter where Blinkit has exceeded the company's core food delivery arm in order value, indicating a shift in strategic weight toward quick commerce.
Zomato's food delivery unit showed stable growth, with a 10% sequential increase in revenue and steady improvement in margins. Adjusted Ebitda margin for the vertical improved to 5% of NOV, up from 3.9% in the year-ago period.
Monthly transacting users rose to 22.9 million from 20.3 million last year, while average monthly transacting restaurant partners stood at around 2,38,000.
Blinkit, which operates a network of over 500 dark stores, continues to be loss-making at the Ebitda level, reporting a loss of Rs 162 crore for the quarter, although this improved marginally from Rs 178 crore in the previous quarter. Eternal announced the incorporation of a new subsidiary, Blinkit Foods, to explore parallel commerce models including cooked food delivery.
Hyperpure, the company's B2B supplies vertical for restaurants, generated Rs 2,295 crore in revenue, up 89% year-on-year. District, Eternal's going-out and ticketing vertical, saw revenue more than double to Rs 207 crore from Rs 95 crore in the same quarter last year.
During the quarter, the company granted around 1 million stock options to employees under its Esop plans, valued at about Rs 26 crore. Eternal has said Esops are a key lever in long-term talent retention, especially as it scales newer businesses.
Eternal closed the quarter with a consolidated gross order value (GOV) of Rs 21,729 crore across its platforms, up from Rs 13,544 crore a year ago. The company said it would continue to invest in growing Blinkit and Hyperpure, even as it keeps food delivery profitable and cash-generating.
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