New Delhi, July 23(APAC Media): Blinkit has widened its lead in India’s quick commerce market, according to Eternal’s June-quarter shareholder letter and FY26 operating data. The company said Blinkit’s business is now nearly equal to the combined scale of Zepto and Swiggy Instamart on key operating metrics while continuing to report positive EBITDA.
Blinkit processed 916.6 million orders during FY26, compared with 640.2 million orders for Zepto and 412.2 million for Swiggy Instamart. The company also reported FY26 revenue of ₹37,779 crore, ahead of Zepto’s ₹22,624 crore and Instamart’s ₹3,859 crore. Blinkit’s network expanded to 2,243 dark stores during the year, almost double Zepto’s 1,139 stores and slightly ahead of Instamart’s 1,143.
The company also remained ahead on profitability. Blinkit reported an adjusted EBITDA profit of ₹37 crore in the March quarter, while Zepto and Swiggy Instamart reported adjusted EBITDA losses of ₹1,247.5 crore and ₹1,009 crore, respectively.
For the June quarter, Blinkit’s net order value (NOV) rose 86% year-on-year to ₹17,132 crore, above market expectations of ₹16,796 crore. Adjusted EBITDA improved to a profit of ₹102 crore from a loss of ₹162 crore a year earlier, while EBITDA margin increased to 0.6% of NOV, marking the fifth consecutive quarter of improvement.
Blinkit added 200 net new stores during the quarter, taking its total network to 2,443 stores across more than 300 cities. Eternal said the company’s strategy remains focused on expanding product assortment, entering new markets and strengthening supply chain infrastructure instead of competing mainly through discounts.
Following the results, several brokerages maintained a positive outlook on Eternal, citing Blinkit’s improving profitability, expanding scale and stronger execution in the quick commerce segment. Shares of Eternal were trading around 3% higher on July 23 and have gained more than 13% over the past six months.
