Blinkit vs JioMart Express: Revenue, Profit and Business Model
Blinkit reported ~$4.4B of revenue in FY2026 and — of net income. JioMart Express does not publish annual revenue.
Latest financial snapshot
Blinkit
- Latest revenue
- ~$4.4B (FY2026)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- +260.6% a year, FY2023–FY2026
JioMart Express
JioMart Express does not publish annual revenue or profit.
Financial summary
Blinkit
Blinkit's quick-commerce segment revenue grew from ~$93.5 million (₹806 crore) in FY23 (a partial year after the August 2022 acquisition) to ~$267 million (₹2,301 crore) in FY24, ~$604 million (₹5,206 crore) in FY25 and ~$4.38 billion (₹37,779 crore) in FY26. Most of the FY26 jump is an accounting effect: after the September 2025 move to owning inventory, revenue includes the full price of goods sold. The operating trend shows up elsewhere. Blinkit's NOV grew at a 104% CAGR between FY23 and FY26, and its adjusted EBITDA turned positive for the first time in the December 2025 quarter (~$464,000 (₹4 crore)), then rose to ~$4.29 million (₹37 crore) in the March 2026 quarter and ~$11.8 million (₹102 crore) in the June 2026 quarter. Q1 FY27 revenue of ~$1.82 billion (₹15,664 crore) was about 77% of Eternal's consolidated revenue.
JioMart Express
Reliance never reported standalone revenue for JioMart Express, so any revenue figure for the service would be a guess. Its parent, Reliance Retail, reported FY26 (year to March 2026) gross revenue of Rs 3,70,026 crore (about $39 billion), up 11.8%, and profit after tax of about Rs 13,840 crore. In Q1 FY27 (April-June 2026), gross revenue rose 7.4% to Rs 90,408 crore while profit fell 14.2% to Rs 2,806 crore, mainly because of quick-commerce spending at JioMart.
Revenue and profit by year
Blinkit
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$4.4B | — | 0.0% | +625.7% | Source |
| FY2025 | ~$603.9M | — | 0.0% | +126.2% | Source |
| FY2024 | ~$266.9M | — | 0.0% | +185.6% | Source |
| FY2023 | ~$93.5M | — | 0.0% | — | Source |
JioMart Express
JioMart Express does not publish annual revenue. What is known about its finances is in the summary above.
Full JioMart Express financialsWhere the revenue comes from
Blinkit
- Sale of Goods (Owned Inventory)
Since September 1, 2025, Blinkit buys stock from brands and distributors and sells it directly, so the full value of goods sold is booked as revenue. This is now the bulk of reported revenue.
- Advertising (Blinkit Ads)
Brands pay for sponsored search results, banners and product placements inside the app. Eternal does not break out Blinkit's ad revenue.
- Customer Delivery and Platform Fees
Delivery charges, handling fees and small-cart fees paid by customers on qualifying orders.
- Marketplace Commissions (Before September 2025)
Until the inventory switch, Blinkit earned commissions and warehousing fees from sellers listing products on its marketplace, which is why revenue was much smaller before FY26.
JioMart Express
- Grocery and essentials sales
Not disclosed
Retail margin on groceries, fresh produce and household items.
- Delivery fees
Not disclosed
Fees charged on fast-delivery orders.
Business model and strategy
Blinkit
How it makes money
Blinkit runs a network of small warehouses that are closed to walk-in shoppers (dark stores), placed close to dense residential areas. Customers order in the Blinkit app, staff pick and pack the order inside the store, and delivery partners ride it to the door, usually within minutes.
Growth strategy
Blinkit's stated plan rests on three levers: assortment expansion, geographic expansion and demand densification. Assortment means taking more cities closer to the roughly 80,000 SKUs offered in Delhi-NCR and adding categories such as electronics, toys, beauty and premium groceries.
Competitive advantage
Blinkit's edge is store density and assortment built ahead of rivals. It ended June 2026 with 2,443 dark stores, more than any competitor, and a 2026 CLSA count found 969 Blinkit stores across India's top 10 cities against 828 for Zepto and 627 for Flipkart Minutes.
JioMart Express
How it makes money
JioMart Express sold groceries and daily essentials to consumers (B2C). Orders were picked from nearby Reliance retail stores rather than a central warehouse and delivered within a promised window of about 90 minutes. Revenue came from the retail margin on goods sold plus delivery fees. Reliance never disclosed separate revenue for the service.
Growth strategy
Reliance did not grow JioMart Express beyond its pilot. It closed the app in February 2023 and later built quick commerce into the main JioMart app instead. That rebuilt network reached 1.6 million average daily orders by January 2026, and average daily orders grew 116% year on year in the June 2026 quarter.
Competitive advantage
Reliance's advantage was its existing store network. Instead of leasing new dark stores, JioMart Express could pick orders from stores that already had stock and staff. That advantage did not save the 2022 app, but it is the base of JioMart's current quick-commerce push, which links more than 2,500 digital, fashion and lifestyle stores to a two-hour delivery network.
Questions about Blinkit vs JioMart Express
Which company has higher revenue — Blinkit or JioMart Express?
Blinkit reported ~$4.4B (FY2026). A verified revenue figure for JioMart Express was not available at the time of this comparison.
How do Blinkit and JioMart Express make money?
Blinkit and JioMart Express generate revenue in fundamentally different ways. Blinkit: Blinkit runs a network of small warehouses that are closed to walk-in shoppers (dark stores), placed close to dense residential areas. JioMart Express: JioMart Express sold groceries and daily essentials to consumers (B2C).
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Blinkit vs JioMart Express overview