Eternal, the parent company of Zomato and Blinkit, reported its Q1 FY26 financial results showing a 70.3% increase in revenue to ₹7,167 crore, up from ₹4,206 crore in the same quarter last year. Despite this revenue growth, the company experienced a 90% year-on-year decline in net profit, which fell to ₹25 crore from ₹253 crore. The revenue growth was driven by strong performance in Blinkit and food delivery segments, with Blinkit leading B2C new order value (NOV) at nearly $10 billion. However, food delivery margins contracted for the first time in 14 quarters, and Blinkit continues to burn cash, raising concerns about its path to profitability. Following the earnings announcement, Eternal's stock surged by 14.5% to a record high of ₹311.25 on the NSE, contributing to a 17% gain in July and a 54% increase so far in FY26. Additionally, Eternal incorporated a new food services subsidiary, Blinkit Foods, to expand its 10-minute food delivery service, Bistro. Brokerages have raised price targets for Eternal's stock to between ₹300 and ₹400, citing positive trends in quick commerce (Q-commerce).