Q-comm profitability to come a quarter late

India’s listed quick commerce players — Zomato’s Blinkit and Swiggy Instamart — are expected to see solid growth in order volumes and store expansions in the fourth quarter of FY25, but their profitability timelines may stretch further, analysts at JP Morgan have said.

The brokerage has slightly revised estimates, pushing out the Ebitda break-even timeline to Q3FY26 from Q2FY26, as contraction in contribution margin may offset gains from increasing orders.