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Quick commerce majors Blinkit and Instamart gained market share in the first quarter of the ongoing financial year (Q1 FY26) as players in the sector decided to slow down their aggressive expansion plans, a report by ICICI Securities said.
The report said that Eternal’s Blinkit saw its gross order value grow over 25% sequentially, while Swiggy’s Instamart witnessed a 22% QoQ growth in Q1 FY26.
The brokerage said that the growth for the quick commerce sector was below 20% in Q1 FY26, implying that both Blinkit and Instamart gained market share.
This would also mean that Zepto likely lost market share during the June quarter. Notably, Zepto was said to be looking to reduce its cash burn and turn profitable as it gears up for its IPO. This also resulted in the company deferring its public listing plans to 2026 from 2025 earlier.
However, Zepto cofounder and CEO Aadit Palicha said last month that the decision to defer the filing of draft papers was taken as the company wants to increase domestic ownership. Palicha said that Zepto was close to achieving EBITDA breakeven.
Focus Turns To Profitability
The aggressive expansion spree undertaken by the three leading players in the quick commerce sector saw their profitability taking a hit. While the financial numbers for Zepto are not out, Eternal and Swiggy saw their expenses surge over the past few quarters.
While Eternal saw its consolidated net profit crash nearly 78% YoY to INR 39 Cr in Q4 FY25, Swiggy’s net loss surged 95% to INR 1,081.2 Cr.
However, the companies are now turning their focus towards profitability following the expansion over the last few quarters. ICICI Securities said its channel checks indicate that price discounting steadily decreased across platforms in Q1 and performance marketing spends also remained comparatively muted.
(The story will be updated soon)
The post Quick Commerce Battle: Blinkit, Instamart Gain Market Share In Q1 appeared first on Inc42 Media.
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