Resurfacing Eternal’s Q3 revenue jump of 202% as quick-commerce margins improved
Revisiting Eternal’s (formerly Zomato) Q3 FY26 report from late December 2025: revenue of Rs 16,315 crore and net profit of Rs 102 crore, up 201.9% and 102.9% year on year. Its quick-commerce business had improved contribution margin by about 90 bps and EBITDA margin by about 130 bps sequentially while adding more than 200 net stores.
India’s retail market could reach Rs 210-215 trillion by 2035. Eternal reported sharp Q3 FY26 revenue and profit growth, with quick commerce reaching breakeven, expanding margins and adding over 200 stores despite sustained competitive pricing pressure.
Why this matters
The resurfaced Q3 FY26 report follows signals on Eternal and Nykaa’s Q3 gains and India’s retail market potentially reaching Rs 210–215 trillion by 2035, underscoring Eternal’s quick-commerce scale-up alongside improving unit economics.
Retail-company is accelerating, up 198257% quarter on quarter.