Blinkit's Q1 revenue soars 154% YoY to Rs 2,400 crore in FY26

Despite a weak showing from Eternal Ltd's food delivery segment, the quick commerce arm, Blinkit, posted a sharp growth in Quarter 1 of fiscal year 2026.

Blinkit's consolidated revenue from operations surged 156% to Rs 2,400 crore in the June quarter of FY2026 compared to Rs 942 crore in the corresponding quarter in FY25.

Blinkit CEO Albinder Dhindsa attributed the strong growth of the platform to numerous factors, including the company's edge in the 'just-in-time supply chain,' and its ability to solve internet and logistics challenges.

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"Both these problems are extremely hard on their own, and solving these two problems synchronously with each other makes quick commerce multiple times more complex than traditional retail, or food delivery," Dhindsa added.

On a different note, Eternal founder Deepinder Goyal said the difference between Blinkit and other companies could stem from its internal culture. "Our teams rarely celebrate wins, keep a low profile, and believe in the 1% done philosophy. We want to keep our heads down and keep up the momentum in solving problems for our customers, without having or needing to look back to see how far we have come," Goyal added.

Dhindsa highlighted a massive opportunity in the quick commerce space. During the Q1 earnings, Dhindsa said, "The opportunity in front of us is massive, which means that the competition in this space is also very high. We see an influx of new players in this segment every now and then, and we see varying aggression by existing competitors depending on their balance sheet and near-term growth objectives".

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However, he affirmed that Blinkit will not relinquish its market position in the long term. According to a report by JM Financial, Blinkit commands 46% of the quick commerce market share at present.

CEO Dhindsa emphasized that said that smaller cities have remained equally critical to Blinkit's profitability.

He noted that the net average order value (NAOV) gap has narrowed to 10% between large and smaller cities.

"After accounting for lower cost of operations in smaller cities, there is early evidence that margins will be attractive even in smaller cities," Dhindsa added.

Blinkit added 243 stores in Q1 FY26, taking the total store count to 1,544 as of 30 June 2025.

Dhindsa has aimed to expand the stores to 2,000 by the end of the current calendar year.

Blinkit's warehouse space has also increased to 5.6 million sq ft across the country.

The company's net order value rose to 127%, driven by growth in average monthly transacting customers from 70 lakh to Rs 1.69 crore over the past year.

Blinkit's margins improved from -2.4% of NOV in Q4FY25 to -1.8% in Q1 FY26, he added.