Blinkit, Instamart face rising competition, elusive profitability in Q4

The post-results commentary from Zomato parent Eternal as well as from Swiggy had a common denominator: both companies pointed at heightened competition in the quick commerce space. Although Eternal’s Blinkit held on to its lead over Swiggy’s Instamart, financial results for the March quarter showed both quick delivery platforms struggling to turn profitable.Adjusted Ebitda margin as a share of Gross Order Value (GOV)—a measure of profitability—for Eternal’s quick commerce operations dropped to -1.9% in the three months to March 31, from…