Bengaluru, January 21, 2026, 16:46 IST
- Founder Deepinder Goyal is stepping into the vice chairman role, with Albinder Singh Dhindsa taking over as Blinkit CEO starting Feb. 1
- Third-quarter profit hit 1.02 billion rupees, while revenue from operations jumped to 16,315 crore rupees
- Shares climbed during the session as investors balanced Blinkit-driven expansion with rising margin concerns
India’s Eternal announced Wednesday that its founder, Deepinder Goyal, will step down as CEO and managing director. Blinkit CEO Albinder Singh Dhindsa will take over the role. The Zomato parent reported a sharp jump in third-quarter profit, which climbed to 1.02 billion rupees ($11.12 million) for the quarter ended Dec. 31, up from 650 million rupees the previous quarter. 1
The move comes as “quick commerce” — lightning-fast delivery of groceries and essentials — takes center stage for the group. Blinkit depends on tight clusters of “dark stores,” compact warehouses that process online orders within minutes, but expanding this network comes with a hefty price tag.
Before the earnings came out, analysts monitored by Economic Times predicted headline growth would jump, but they flagged losses from Blinkit and tightening margins as key concerns amid rising competition. 2
Eternal posted a consolidated net profit of 102 crore rupees for the October-December quarter, marking a 73% jump from the same period last year. Revenue from operations surged 201% to 16,315 crore rupees, Moneycontrol reported. In his shareholder message, Goyal reflected on his 18 years building the company and vowed, “I will continue doing that.” 3
Shares jumped before the earnings release, with Eternal surging up to 6.2% intraday to hit 287 rupees, topping the gains on the Nifty 50 index, Economic Times reported. 4
Goyal told shareholders he was “drawn to a set of new ideas” centered on higher-risk exploration, which he felt were better tackled outside a public company. He said he would stay on as vice chairman, pending shareholder approval, and that his unvested employee stock options would go back to the ESOP pool. 5
He shifted operating control to Dhindsa, noting that the “centre of gravity for operating decisions” will now rest with the Blinkit chief. Eternal restated its quick-commerce margin target at 5% to 6% of net order value—a key sales metric for delivery companies—while acknowledging the competition remains intense, Financial Express reported. 6
Blinkit’s move to an inventory-led approach—buying, storing, and selling products itself instead of just hosting a marketplace—is a major factor behind its revenue jump, says an Upstox earnings preview. This strategy can inflate reported revenue and tighten pricing control, but it also shifts the cost structure and puts pressure on unit margins. 7
Blinkit goes head-to-head with Swiggy’s Instamart and Zepto in the quick commerce race. On the other hand, Zomato’s food delivery segment squares off against Swiggy in its main market. The push for speedier delivery and broader product choices has forced these players to expand their store counts and ramp up discounts, putting their profitability under pressure.
Livemint reported Eternal shares ended the day up 4.9%. Anshul Jain, head of research at Lakshmishree Investments, noted that “only a decisive breakout and sustain above ₹299 would signal a meaningful momentum shift,” while a drop below ₹277 would indicate a loss of support. 8
That said, the handover hits a sector prone to rapid shifts. Should discounting ramp up again or store growth outpace demand, margins could shrink sharply — much of the recent growth hinges on Blinkit maintaining smooth execution amid a noisy, crowded market.
