Eternal's Q-commerce arm Blinkit rivals food business

Q-commerce now makes for almost half of Eternal's $10 billion annualized net order value

- Sakshi Sadashiv & Suneera Tandon

Groceries have caught up with food at Zomato and Blinkit parent Eternal, marking a turning point for the delivery giant that fetches anything from household essentials to cuisines of choice.

Eternal's quick-commerce arm Blinkit nearly equalled for the first time its once-mainstay food delivery business Zomato in net order value (NOV)—excluding discounts—in April-June, accounting for about ₹10,000 crore of the total ₹20,183 crore order value during the quarter, it said in an exchange filing on Monday detailing Q1 FY26 earnings. Quick commerce now makes for almost half of Eternal's $10 billion annualized NOV, signaling a major shift in the company's growth engines.

Despite declaring in the Q4 FY25 earnings call that it saw "no future" for ultra-fast food delivery, Eternal has ramped up investments in Bistro, a 10-minute meal initiative under Blinkit.

Losses at the food delivery business mounted during the quarter, driven by the company's investments in Bistro, which is a capex-heavy initiative. Although Bistro operates under the Blinkit brand, its financial impact is reflected in the food delivery segment in Zomato's reporting structure—contributing to the sharp drop in profitability for that segment in Q1 FY26.