BENGALURU, May 8 -- India's quick commerce sector may be entering a new phase where blistering growth begins to cool even as the overall momentum remains intact.

Eternal Ltd's Q4 shareholder letter showed Blinkit's net order value (NOV) grew 8% to Rs.14,386 crore sequentially, compared to 13% growth QoQ in the previous quarter. On the other hand, Instamart's gross order value (GOV) fell to Rs.7,881 crore from Rs.7,938 crore in the previous quarter. It grew 13% QoQ in the previous quarter.

The slower quarterly momentum points to a turning point for the segment, highlighting that quick commerce is expanding fast but growth is starting to normalize as competition intensifies. Eternal's management acknowledged the impact of intensifying com...