Eternal reported a second-quarter profit that fell 63 per cent year-on-year but rose sequentially, as surging demand in its quick commerce arm, Blinkit, cushioned the impact of elevated investments in the 10-minute delivery business.

Eternal, which also runs the food delivery business Zomato, reported a profit of ₹65 crore ($7.4 million) in the three months to end-September, compared to ₹176 crore a year ago. Its profit in the previous quarter was ₹25 crore.

India's quick commerce industry, which promises to deliver everything from milk to iPhones in 10 minutes, has ignited an investment frenzy, as it grows rapidly in urban areas.

However, the race to expand quickly and for a bigger market share has weighed on profitability.

Eternal's margins have shrunk, while losses for peer Swiggy h

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