Blinkit vs JioMart: Revenue, Profit and Business Model
Blinkit reported ~$4.4B of revenue in FY2026 and — of net income. JioMart does not publish annual revenue.
Latest financial snapshot
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
Reliance does not publish JioMart's revenue, GMV or losses separately, so any precise JioMart revenue figure in circulation is an estimate. What Reliance does disclose: Reliance Retail's FY26 gross revenue was ~$42.9 billion (₹3,70,026 crore) (+11.8%), EBITDA ~$3.14 billion (₹27,033 crore) and profit after tax about $1.61 billion (₹13,840 crore). In Q1 FY27 (April-June 2026) gross revenue rose 7.4% to ~$10.5 billion (₹90,408 crore) while EBITDA was ~$732 million (₹6,309 crore) and profit fell 14.2% to ~$325 million (₹2,806 crore) as JioMart investment weighed on margins. Digital channels made up 13.4% of grocery B2C revenue in that quarter, up 610 basis points. CFO Dinesh Taluja said online growth will be funded from existing profits, with a three-year aim of doubling operating EBITDA.
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
JioMart does not publish annual revenue. What is known about its finances is in the summary above.
Full JioMart 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
- Direct Grocery, Fresh Produce & FMCG Sales
Not disclosed
Retail sales of groceries, dairy, staples, and Reliance private FMCG label products.
- B2B Kirana Wholesale (JioMart Partner)
Not disclosed
Wholesale distribution margins on inventory supplied to millions of independent kirana merchants.
- Non-Grocery Marketplace Commissions & Ads
Not disclosed
Take-rates and advertising fees from electronics, fashion, and home goods merchants.
- Quick Commerce Handling & Delivery Charges
Not disclosed
Fulfillment and delivery fees on 15-to-30-minute hyperlocal express grocery 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
How it makes money
JioMart makes money mainly as a first-party retailer: it buys groceries, staples, FMCG goods, electronics and fashion through Reliance Retail's supply chain and earns the retail margin when it sells them online.
Growth strategy
JioMart's growth plan has three parts. First, densify quick commerce: more stores and dark stores in markets where order volume justifies them (3,100+ stores by June 2026). Second, extend fast delivery beyond grocery, using Reliance Digital stores for electronics and the AJIO Rush service for fashion, where order values are higher.
Competitive advantage
JioMart's edge is infrastructure it does not have to build. Reliance Retail ended FY26 with more than 20,000 stores, 387 million registered customers and 1.93 billion transactions a year, so a JioMart order can be packed from an existing store shelf.
Questions about Blinkit vs JioMart
Which company has higher revenue — Blinkit or JioMart?
Blinkit reported ~$4.4B (FY2026). A verified revenue figure for JioMart was not available at the time of this comparison.
How do Blinkit and JioMart make money?
Blinkit and JioMart 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: JioMart makes money mainly as a first-party retailer: it buys groceries, staples, FMCG goods, electronics and fashion through Reliance Retail's supply chain and earns the retail margin when it sells them online.
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 overview