Eternal’s Q4 Show and Snabbit’s Funding Round: Key Developments in India’s Tech Scene
Eternal’s Q4 Highlights
Eternal has reported a significant surge in profits and revenues for Q4 FY26, driven primarily by its quick commerce arm, Blinkit. The company’s consolidated net profit increased 4.5 times year-on-year to ₹174 crore, while operating revenue saw a 196% rise to ₹17,292 crore. However, the company’s total expenses also rose sharply by 185% to ₹17,406 crore, highlighting the challenges in balancing growth and profitability.
Blinkit emerged as the star performer, with revenues soaring 674% year-on-year to ₹13,232 crore, supported by the addition of 216 new dark stores and a 95% increase in net order value. Meanwhile, Zomato, Eternal’s food delivery vertical, maintained stable growth by focusing on affordable meal options. Despite these gains, the uneven performance of District, its going-out business, remains a concern, with modest revenue growth and fluctuating ticketing demand.
Snabbit Bags $56 Mn
Quick home services startup Snabbit has secured $56 million in a Series D funding round, marking a significant milestone for the company founded in 2024. The funds will be used to expand its service offerings and reach 250-300 micromarkets over the next 12-18 months. Snabbit provides trained domestic help within 10-15 minutes through its app, currently operating in major cities like Delhi NCR, Mumbai, and Bengaluru.
With a daily servicing job count of around 40,000, Snabbit claims an annualised revenue run rate of $35-40 million, while successfully reducing its burn per order by 50% in the past six months. This funding round positions Snabbit to further cement its presence in the burgeoning quick services market, where competition is intensifying as more players enter the space.
Implications for India’s Startup Ecosystem
These developments underscore the dynamic nature of India’s startup ecosystem, where rapid growth and significant funding rounds are becoming increasingly common. Eternal’s Q4 performance highlights the potential and challenges of scaling operations while maintaining profitability. The company’s reliance on other income to achieve profitability indicates the need for a more sustainable financial model.
Snabbit’s successful funding round reflects investor confidence in the quick services sector, which is expected to grow as urbanisation and demand for convenience increase. For founders and investors, these trends suggest opportunities in sectors that combine technology with everyday services. However, the pressure to balance growth with profitability remains a critical challenge.
Looking ahead, stakeholders should monitor how Eternal addresses its expense management and how Snabbit leverages its new capital to outpace competitors. These strategic moves will provide insights into the evolving strategies of Indian startups navigating a competitive and rapidly changing market landscape.
