Eternal Q3FY26 revenue rises over 200% YoY; quick commerce business remains top contributor

Eternal Q3 results: Shares of Eternal closed in green as the top gainer in the NIFTY50 ahead of Q3 results, which were announced after market closing. The company’s topline revenue jumped over 200%, primarily attributable to its quick commerce segment.

Eternal’s Q3FY26 revenue from operations jumped 200% at ₹16,315 crore as against ₹5,450 crore in the same period last year. The sharp jump in the revenue is primarily due to 776% jump in the quick commerce revenue at ₹12,256 crore. While the food delivery segment jumped ₹29% YoY to ₹2,676 crore.

On the operating front, the company’s EBITDA for the quarter jumped 77% YoY to ₹368 crore as against ₹207 crore in the previous year’s same quarter. However, the operating margin contracted to 2.6% in the Q3FY26 as compared to 3.8% in the same period last year.

Eternal now owns all the franchises of the dark stores for its quick commerce segment, thereby making all the purchases and selling them on the platform. Consequently we saw the purchase cost jumping from ₹1,510 crore to ₹10,076 crore.

Lastly the net profit for the quarter 72.8% YoY to ₹102 crore as compared to ₹59 crore in the same period last year and ₹65 crore in the previous quarter.

Apart from the above core results. Below are the key highlights from Q3FY26 earnings

• The quick commerce business and Hyperpure business turned EBITDA positive in Q3FY26.

• The quick commerce business segment’s net order value (NOV) remained robust at 121% YoY. However, growth was negatively impacted by GST changes and seasonality. 211 net new stores were added in the quarter taking the total store count to 2,027 stores as at the end of the quarter (about 70 stores short of our guidance of 2,100 stores)

• The food delivery business NOV growth stood at 16% YoY with adjusted EBITDA margin of 5.4%.

• In a separate exchange filing, the company said that Deepinder Goyal has resigned from the post of CEO, Director and Managing Director with effect from February 1, 2026. The Blinkit founder, Albinder Singh Dhindsa will replace him as the new Chief Executive Officer