Eternal Q4 report: Net profit plummets on Blinkit losses; food delivery stays in the slow lane

Food and grocery delivery company Eternal – the parent of Zomato and Blinkit – reported a steep 78% year-on-year (YoY) fall in net profit at Rs 39 crore for the January-March quarter as losses from quick commerce continued to burden the bottomline. However, the company said it would continue to aggressively chase market share in quick commerce without near-term profit goals coming in the way.In an indication of rising dependence on food delivery for consolidated profits, the company also shuttered its 15-minute food delivery service, Quick, and…