ETtech Explainer: Decoding Blinkit’s 9X revenue surge amid slow margin growth

Eternal-owned Blinkit reported a 9x jump in its revenue in Q2 of FY26 to Rs 9,891 crore, up from Rs 1,156 crore in the same period last year. The revenue jump comes as the company moves to an inventory model from a marketplace model. Further, Blinkit‘s aggressive expansion of dark stores led to increased capital expenditure for the company.

ETtech explains:

How did Blinkit’s revenue increase 9x?

Blinkit’s net order value (NOV) for the September quarter rose 137% year-on-year (YoY), the highest in the last 10 quarters. Meanwhile, quarterly, it rose…