印度永恒公司预计，其快速商业业务Blinkit的增长将从12月季度开始加速。公司押注竞争环境将更趋稳定，从而在不损害利润率的情况下加快扩张。
India’s Eternal expects growth in Blinkit, its quick-commerce business, to accelerate from the December quarter, as the company bets on a more stable competitive environment to expand faster without hurting margins.
首席财务官阿克尚特·戈亚尔在周三的财报后电话会议上表示：“我们预计不会因为加快开店而导致短期利润率下降。”
“We don’t expect there to be a short-term margin reduction on account of accelerated store addition,” Chief Financial Officer Akshant Goyal said on a post-earnings call on Wednesday.
永恒公司及其竞争对手Swiggy一直在迅速扩张其小型仓库网络（即所谓的“暗店”）。尽管扩张支出和竞争使盈利能力受到关注，但该业务板块已成为两家公司的关键增长引擎。
Eternal and rival Swiggy have been rapidly expanding their networks of small warehouses, known as dark stores, as the segment has emerged as a key growth driver for both companies even as spending on expansion and competition have put profitability in focus.
Blinkit的净订单价值（NOV）同比增长79.3%，达到2094亿卢比（22.2亿美元）；调整后营业利润从上季度的10.2亿卢比增至18.4亿卢比。
Blinkit’s net order value (NOV) rose 79.3% year-on-year to 209.40 billion rupees ($2.22 billion), while adjusted operating profit rose to 1.84 billion rupees from 1.02 billion rupees in the previous quarter.
其调整后EBITDA利润率占净订单价值的比例环比从0.6%提升至0.9%。
Its adjusted EBITDA margin improved to 0.9% of its NOV from 0.6% sequentially.
戈亚尔表示，过去一年竞争加剧之后，竞争态势已变得更加可预测，这让永恒公司有信心加快扩张。
Competition has become more predictable after intensifying over the past year, giving Eternal the confidence to expand faster, according to Goyal.
公司预计到2027年3月将拥有超过3500家Blinkit门店，到2028年3月将达到约5000家，而截至9月底为2751家，新增门店大多位于较小城市。
The company expects to have more than 3,500 Blinkit stores by March 2027 and about 5,000 by March 2028, up from 2,751 at September-end, with most additions in smaller cities.
永恒公司整体营收增长77.6%，达到2413.8亿卢比，超过分析师预期的2392.1亿卢比。
Eternal’s overall revenue rose 77.6% to 241.38 billion rupees, beating analyst estimates of 239.21 billion rupees.
据LSEG数据，合并净利润几乎翻倍，达到12.5亿卢比，但低于分析师平均预期的27.1亿卢比。
Consolidated net profit nearly doubled to 1.25 billion rupees but missed analysts’ average estimate of 2.71 billion rupees, according to LSEG data.
戈亚尔表示，永恒公司预计其外卖业务Zomato的利润率在未来一到两年内将大体持平，因为公司将在获取客户和提高订单频率方面进行投资，优先考虑增长。
Eternal expects margins at Zomato, its food-delivery business, to stay broadly flat over the next one to two years as it invests in customer acquisition and increasing order frequency, prioritising growth, Goyal said.
Zomato的净订单价值增长21.5%，达到1144.5亿卢比；调整后营业利润同比增长25%，达到62.7亿卢比。调整后EBITDA利润率占净订单价值的比例环比降至5.5%。
Zomato’s NOV rose 21.5% to 114.45 billion rupees, while adjusted operating profit increased 25% year-on-year to 6.27 billion rupees. Adjusted EBITDA margin fell to 5.5% of NOV sequentially.
另外，永恒公司还发布了Dark.ai，这是一项注重隐私的人工智能服务，该公司希望能在2026年底前在全球推出。
Separately, Eternal unveiled Dark.ai, a privacy-focused AI service it hopes to launch globally by the end of 2026.