New Delhi, July 23 -- Eternal's June quarter (Q1FY27) results demonstrated that competition has not dented its key performance metric of net order value (NOV) growth.

For Zomato, its food delivery business, NOV rose 20% year-on-year (y-o-y) to Rs.10,769 crore, while that of quick commerce segment Blinkit soared 86% to Rs.17,132 crore. The upshot: Ebitda jumped over 400% y-o-y to Rs.594 crore.

Both segments are still in varying phases of growth and require investment. Fixed costs generally remain high due to expenses related to expansion, suppressing the Ebitda margin. So, the contribution margin, i.e., revenue minus variable costs, can give important takeaways.

Zomato's contribution margin grew 30 bps y-o-y to 10.2%. The expansion was ...