Venture operates 45 kitchens in Delhi NCR and Bengaluru, with management citing early signs of product-market fit
Eternal’s ultra-fast food delivery venture, Bistro, posted nearly Rs 150 crore in adjusted Ebitda losses over the last three quarters, while generating revenue of under Rs 20 crore, as the company invests in its owned-kitchen model for fast food delivery, as per media reports.
According to Eternal’s Q3 FY26 financial disclosures, Bistro reported an adjusted Ebitda loss of Rs 51 crore in December, following losses of Rs 55 crore in Q2 FY26 and Rs 45 crore in Q1 FY26. Revenue across the three quarters stood at just under Rs 20 crore, with Rs 14 crore contributed in Q3 FY26.
CFO Akshant Goyal said the losses were “largely on account of investments in our quick food delivery service Bistro, where kitchen infrastructure is managed by us.” The company currently operates around 45 kitchens, primarily across Delhi NCR and Bengaluru, and is seeing “early signs of product-market fit,” reflected in strong throughput per outlet and indications of a potential path to profitability.
Eternal’s push into ultra-fast food delivery mirrors sector-wide trends. Zomato’s Blinkit had launched a Bistro app in December 2024 for 10-minute food delivery, while Zomato’s own ‘Quick’ service was paused four months after its May 2024 launch, highlighting the evolving strategies in the segment.
Losses widened as Bistro expanded its kitchen footprint. Revenue per kitchen in Q3FY26 averaged around Rs 30–32 lakh per quarter, or just over Rs 10 lakh per month, across 45 kitchens. The company has not disclosed plans for further scale.
On the consolidated level, Eternal reported a 73 per cent rise in net profit to Rs 102 crore in Q3FY26, compared with Rs 59 crore in the same quarter last year. Consolidated revenue surged 202 percent year-on-year to Rs 16,315 crore, up from Rs 5,405 crore, driven by growth across Zomato and Blinkit operations.
