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Blinkit gets Rs 600 crore cash boost from parent Eternal - The Economic Times

Economic Times

Economic Times · 4d ago

Blinkit gets Rs 600 crore cash boost from parent Eternal - The Economic Times

India's largest quick commerce platform, Blinkit, received a Rs 600 crore cash infusion from its parent company, Eternal, totaling Rs 2,600 crore this year. This funding aids in expanding Blinkit's dark store network, aiming for 3,000 warehouses by March 2027. Despite reaching 1,816 stores, Blinkit faces losses, reporting Rs 156 crore in the July-September quarter. Eternal's support covers these losses while Blinkit prioritizes sustainable growth over short-term margins amidst intense market competition.

Related News

Ant Financial to net nearly 6X return on investment from Zomato parent stake sale - The Economic Times

Economic Times

Economic Times · 3m ago

Ant Financial to net nearly 6X return on investment from Zomato parent stake sale - The Economic Times

Ant Financial, an Alibaba affiliate, is set to sell its remaining 1.9% stake in Eternal, the parent of Zomato and Blinkit, through block deals, generating Rs 5,370 crore. This brings its total proceeds from stake sales to over Rs 18,000 crore, nearly six times its initial investment. The move follows its complete exit from Paytm. Eternal's market cap is around $33 billion, and despite recent profit drops, analysts have a positive outlook.

Blinkit gets Rs 1,500-crore cash boost from Zomato

Economic Times

Economic Times · 9m ago

Blinkit gets Rs 1,500-crore cash boost from Zomato

India's leading quick commerce platform, Blinkit, received a Rs 1,500 crore investment from parent company Zomato, totaling Rs 4,300 crore since its acquisition in August 2022. This infusion aids Blinkit's financial losses amid aggressive expansion and competition. Despite operational revenue covering needs, expansion costs cause high cash burn. Blinkit targets 2,000 dark stores by December 2025, ahead of competition like Swiggy and Zepto. Rapid expansion in the sector intensifies cash burn and financial losses for companies.

Zomato parent Eternal receives over Rs 40 crore tax demand, penalty from GST authority - The Economic Times

Economic Times

Economic Times · 3m ago

Zomato parent Eternal receives over Rs 40 crore tax demand, penalty from GST authority - The Economic Times

Eternal, owner of Zomato and Blinkit, received three GST orders from Bengaluru authorities, totaling over Rs 40 crore for July 2017–March 2020. The demand includes tax, interest, and penalty. Eternal plans to appeal the orders, asserting confidence in its legal stance with support from legal counsel. The orders specify a GST demand of Rs 17.19 crore, with additional interest and penalties, and were issued by Bengaluru's Joint Commissioner.

Blinkit parent Eternal's board clears plan to cap foreign ownership at 49.5%

Economic Times

Economic Times · 7m ago

Blinkit parent Eternal's board clears plan to cap foreign ownership at 49.5%

Eternal, parent of Blinkit, has capped foreign ownership at 49.5% to enhance operational flexibility by allowing Blinkit to hold inventory, per India’s foreign investment rules. This change aims to qualify Eternal as an Indian-Owned-and-Controlled Company, improving margins in specific categories by owning inventory. As of March 31, domestic ownership was 55%. Previously, Eternal raised Rs 8,500 crore through a qualified institutional placement, increasing Indian shareholding.

Blinkit plans transition to inventory led model from September 1; pings sellers to switch - The Economic Times

Economic Times

Economic Times · 4m ago

Blinkit plans transition to inventory led model from September 1; pings sellers to switch - The Economic Times

Blinkit, a Gurugram-based quick commerce platform, is shifting to an inventory-led model from September 1, 2023. This change requires sellers to sell inventory directly to Blinkit, reducing complexity in processes like GST registrations. Blinkit will assume control over buying inventory, aiming to streamline operations and enhance profit margins. This model shift follows its parent company Eternal becoming an Indian-owned entity, aligning with local regulatory requirements on inventory ownership.

Zomato and Blinkit parent Eternal hit with Rs 128-crore GST demand from Uttar Pradesh tax authorities

IndianStartupNews

IndianStartupNews · 1m ago

Zomato and Blinkit parent Eternal hit with Rs 128-crore GST demand from Uttar Pradesh tax authorities

Eternal, the parent company of Zomato and Blinkit, has been issued a GST demand of Rs 128.4 crore by Uttar Pradesh tax authorities, citing short payment of tax and excess input credit. The demand includes a penalty, and Eternal plans to appeal. Previously, Eternal faced similar tax issues across various states. Despite financial challenges, including a significant drop in net profit and increased operational costs, Blinkit's revenue saw substantial growth.

Zomato parent Eternal incorporates food services arm, Blinkit Foods - The Economic Times

Economic Times

Economic Times · 4m ago

Zomato parent Eternal incorporates food services arm, Blinkit Foods - The Economic Times

Eternal, parent of Zomato and Blinkit, has launched a new subsidiary, Blinkit Foods Pvt Ltd, amid the expansion of its 10-minute food delivery service, Bistro, operating in Bengaluru and Delhi-NCR. Bistro targets high-quality, low-cost meals without affecting Zomato's core business. However, while customer traction is strong, profitability remains a challenge. Swiggy's similar service, Bolt, is rapidly expanding, whereas Zepto Café has scaled down due to supply challenges. Eternal's recent net profits saw a significant decline despite revenue growth.

BNP Paribas aligns with Eternal, offloads Swiggy stake

Entrackr

Entrackr · 3m ago

BNP Paribas aligns with Eternal, offloads Swiggy stake

BNP Paribas aligns with Eternal, offloads Swiggy stake Institutional investors actively rotated positions in the stock market on Tuesday, with the food delivery space at the center of heavy bulk deals. The highlight of the session was French banking giant BNP Paribas Financial Markets exiting a large position in Swiggy while simultaneously emerging as a major buyer in Eternal, the parent entity of Zomato. In Swiggy, BNP Paribas offloaded shares worth around Rs 1,140 crore, while Societe Generale followed a similar strategy, selling shares worth Rs 608 crore. The total selloff was at around Rs 1,748 crore in the food delivery major Swiggy, reflecting heavy foreign institutional profit booking in the segment. On the other hand, BNP Paribas struck a contrasting move in Eternal, the parent company of Zomato and Blinkit. It turned into a massive buyer, acquiring shares worth nearly Rs 3,220 crore. The move signals a clear shift of focus towards Eternal while leaving behind Swiggy. Earlier this month, Alibaba Group affiliate Antfin Singapore Holding Pte. offloaded shares worth Rs 4,097 crore ($482 million) from Eternal through a bulk deal. The transaction involved the sale of 14.13 crore shares at a price of Rs 290 per share. Swiggy reported 54% year-on-year growth in its operating revenue to Rs 4,961 crore in the first quarter of FY26. However, the company’s losses almost doubled to Rs 1,197 crore in the same period. The company’s total market capitalization stands at Rs 1,06,765 crore (approx $12 Bn). On the other hand, Zomato’s parent Eternal reported 70% year-on-year growth in its operating revenue to Rs 7,167 crore in the first quarter of FY26. Meanwhile, the company reported a 90% fall in profit to Rs 25 crore during the quarter. The company’s total market capitalization stands at Rs 3,09,535 crore (approx $35 Bn). In May of this year, Swiggy's stock dropped to an all-time low of Rs 297. Conversely, Eternal's stock hit an all-time high of Rs 331 seven days prior, on August 20, 2025.

Zomato board approves renaming company to ‘Eternal’

Entrackr

Entrackr · 9m ago

Zomato board approves renaming company to ‘Eternal’

Zomato board approves renaming company to ‘Eternal’ Food tech major Zomato has received board approval to change its legal name from ‘Zomato Ltd’ to ‘Eternal Ltd.’ On February 6th, Zomato’s board approved a resolution to rename the company from ‘Zomato Limited’ to ‘Eternal Limited,’ according to a regulatory filing sourced from the National Stock Exchange. “When we acquired Blinkit, we started using “Eternal” (instead of Zomato) internally to distinguish between the company and the brand/app. We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there. We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd,” said Deepinder Goyal, founder and CEO of Zomato. Goyal added that the company’s corporate website will transition from zomato.com to eternal.com. Additionally, its stock ticker will change from ZOMATO to ETERNAL. As of now, Eternal will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure. The development comes weeks after Zomato’s quarterly results and a couple of months after its $1 billion fundraise via QIP. The Gurugram-based company’s revenue from operations surged 64.4% to Rs 5,405 crore in Q3 FY25, compared to Rs 3,288 crore in Q3 FY24. However, its profit took a hit, slipping 57.2% YoY to Rs 59 crore during the period. Meanwhile, the company re-entered the 10–15 minute food delivery space and invested Rs 500 crore in its quick commerce subsidiary, Blinkit. Zomato also made history as the first new-age Indian tech company to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in India’s benchmark index of the top 30 companies.

Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%

Entrackr

Entrackr · 4m ago

Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%

Fintrackr All Stories Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90% Eternal released its financial results for the first quarter of FY26 on Monday. The Gurugram-based company reported a 90% fall in profit for the quarter ending June 2025. Eternal’s revenue from operations grew 70% to Rs 7,167 crore in Q1 FY26 in contrast to Rs 4,206 crore in Q1 FY25, as per the firm’s consolidated financial results sourced from the National Stock Exchange (NSE). Eternal operates several business units, including a food marketplace, Hyperpure, and a quick commerce platform, BlinkIt. Income from Eternal’s food delivery business contributed 31% of the total revenue in Q1 FY26, growing 16% to Rs 2,261 crore from Rs 1,942 crore in Q1 FY25. Revenue from Hyperpure (B2B supplies) and the quick commerce segment (Blinkit) saw significant growth, rising 89% to Rs 2,295 crore and 155% to Rs 2,400 crore, respectively, during the first quarter of FY26. Earnings from the 'Going-out' segment and other non-operating income brought the Eternal Group’s total revenue to Rs 7,521 crore in Q1 FY26. On the cost side, Delivery and related charges accounted for 25% of Eternal's total expenditure, at Rs 1,869 crore in Q1 FY26. Employee benefit cost rose 57% to Rs 830 crore while spending on advertising and marketing increased by 69% to Rs 671 crore in Q1 FY26. Overall, the company’s overall expenditure increased by 77% to Rs 7,433 crore in Q1 FY26, up from Rs 4,203 crore in Q1 FY25. The 70% surge in advertising led the company's profit to fall by 90% to Rs 25 crore in Q1 FY26 from Rs 253 crore in Q1 FY25. On a per-unit basis, the Gurugram-based company spent Rs 1.04 to earn every rupee of revenue during the quarter ending March 2025. At 15:37 on Monday (July 21), Eternal’s shares were priced at Rs 274, giving the foodtech platform a market capitalization of Rs 2,64,564 crore (approximately $31.2 billion).

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