India, Jan. 26 -- Remember that scene from Christopher Nolan's Inception? One of the main characters takes another on a walk up a staircase, but the stairs actually lead to the bottom and end in a loop. 'It's a paradox,' says the one character to the other.

Knowing that this was a reference to the 'Penrose stairs' created by M.C. Escher is one thing, but seeing it come to life on screen actually felt magical. And that line sealed the illusory effect.

After the past year, Zomato-owned Blinkit finds itself on its own Penrose step. The company seemed to have found vindication and denied the naysayers with its fantastic financial performance in FY24.

But the story in FY25 has been anything but smooth. Competition is taking its toll on Blin...