Eternal shares rallied more than 5% in trade after the company reported a strong set of Q3 FY26 results, reflecting steady execution across its quick commerce and food delivery businesses. The performance was broadly in line with estimates on net profit, while revenue, EBITDA and margins came in ahead of expectations, driven by operating leverage and sustained momentum at Blinkit.
Eternal Q3 FY26 results: profit in line, revenue and EBITDA beat estimates
In Q3 FY26, Eternal posted a net profit of ₹102 crore, marking a sharp 56.9% quarter-on-quarter increase from ₹65 crore in Q2 FY26. The profit figure broadly matched Street estimates and underscored the benefits of scale, tighter cost discipline and improving contribution margins across the business.
Revenue for the quarter rose 20% QoQ to ₹16,315 crore, compared with ₹13,590 crore in the previous quarter. This was comfortably ahead of market expectations of around ₹15,500 crore, supported by higher order volumes and continued expansion of Blinkit’s inventory-led quick commerce model.
Eternal’s operating performance showed even stronger momentum. EBITDA surged 54% QoQ to ₹368 crore in Q3 FY26, up from ₹239 crore in Q2 FY26, significantly beating estimates of about ₹300 crore. The improvement reflected better operating efficiencies, higher scale benefits and improving unit economics across both food delivery and quick commerce segments.
As a result, EBITDA margin expanded to 2.3% in Q3 FY26 from 1.8% in the previous quarter, an improvement of 50 basis points and above consensus expectations of around 1.9%. The margin expansion reinforced investor confidence in the company’s path towards sustained profitability.
Deepinder Goyal steps down as Group CEO; Albinder Dhindsa to lead Eternal
Alongside the earnings announcement, Eternal also disclosed a key leadership transition. Founder Deepinder Goyal has stepped away from the Group CEO role, citing the need for sharper focus at the listed company while he explores new, higher-risk ideas outside the group. Subject to shareholder approval, Goyal will continue on Eternal’s board as Vice Chairman.
Taking charge as the new Group CEO will be Albinder Dhindsa, who will now oversee day-to-day execution, operating priorities and business decisions across the group. Dhindsa has played a central role in building Blinkit from its acquisition phase to breakeven, and is widely regarded as a strong operator with deep execution experience.
