Blinkit outpaces Zepto, Swiggy on orders and profitability: Eternal

Mumbai: Blinkit appears to be delivering more than groceries these days. If Eternal’s latest numbers are any indication, it is also delivering a strong message to rivals in India’s fast-growing quick commerce market.

Using its June quarter earnings, Eternal has sought to reinforce Blinkit’s leadership credentials, highlighting a combination of rapid expansion, improving profitability and higher order volumes even as competition in the sector remains fierce.

According to a CNBC-TV18 report, Blinkit posted an adjusted EBITDA of Rs 102 crore for the quarter ended June 2026, a sharp turnaround from a loss in the corresponding period last year. The platform’s net order value (NOV) climbed 86 per cent year-on-year to Rs 17,132 crore.

Growth was not limited to financial metrics. Blinkit added 200 dark stores during the quarter, taking its network to 2,443 locations as it continued to deepen its presence across the country.

Eternal also used its shareholder letter to compare Blinkit’s full-year FY26 operating performance with key rivals. The company said Blinkit processed 916.6 million orders during the financial year, comfortably ahead of Zepto’s 640.2 million orders and Swiggy Instamart’s 412.2 million.

Revenue also reflected the scale of the business. Blinkit generated Rs 37,779 crore in FY26 revenue, while operating nearly twice as many dark stores as either Zepto or Swiggy Instamart by the end of the financial year, according to figures shared by the company.

The company further pointed out that Blinkit remained EBITDA-positive in the March quarter as well, drawing a contrast with losses reported by competing quick commerce platforms during the same period. The comparison appears aimed at demonstrating that the business can continue expanding without sacrificing profitability.

Rather than relying heavily on price-led competition, Eternal said Blinkit’s strategy remains focused on widening product selection, entering more cities and investing in fulfilment infrastructure. The platform now operates more than 19 million square feet of warehousing and store infrastructure across over 300 cities, providing greater capacity to support rising demand.

Brokerages reviewing the quarterly results largely echoed the operational progress. Analysts noted continued improvement in Blinkit’s profitability alongside sustained expansion, while suggesting that the intense competitive environment in India’s quick commerce market may be beginning to stabilise after an extended period of aggressive investments.

For Eternal, the June quarter was about more than reporting earnings. It was an opportunity to underline that Blinkit’s growth story is increasingly being built on both scale and profitability, a combination that could prove crucial as the battle for India’s quick commerce shoppers enters its next phase.