MUMBAI, India — Billionbrains Garage Ventures, the parent company of online stockbroking platform Groww, on Wednesday reported a sharp decline in profit for the third quarter of fiscal year 2026, even as revenue continued to rise.
The company’s consolidated net profit fell 27.8 percent year-on-year to Rs 546.93 crore in the December quarter, compared with Rs 757.11 crore in the same period a year earlier, according to a stock exchange filing.
Revenue from operations, however, increased 24.8 percent to Rs 1,216.07 crore in Q3 FY26, up from Rs 974.53 crore in the corresponding quarter of the previous financial year.
On a standalone basis, performance was weaker. Profit after tax declined 36.7 percent year-on-year to Rs 428.45 crore during the quarter, compared with Rs 677.46 crore a year ago.
Adjusted EBITDA improved during the period, rising to Rs 741.80 crore from Rs 598.1 crore in the December quarter of FY25, the company said in its investor presentation.
Despite a broader slowdown across the broking industry over the past year, Groww continued to expand its user base. The platform’s total transacting users grew 25 percent year-on-year to cross 2 crore, while active users increased 7.5 percent on a quarter-on-quarter basis.
Groww was the only major broker to record growth in all three months of October, November, and December, adding 2.17 lakh active NSE clients during the quarter.
The total value of customer assets on the platform rose 39 percent year-on-year.
Groww also strengthened its position in equity markets. Its market share in cash equities increased to 28.8 percent in Q3 from 21.6 percent a year earlier. In equity derivatives, market share rose from 12.2 percent to 18.1 percent over the same period.
Retail cash average daily turnover grew 21 percent to Rs 11,331 crore, while retail derivatives average daily turnover surged 45 percent to Rs 11,483 crore.
In the mutual fund segment, Groww’s market share edged up from 12.3 percent to 13.7 percent. Systematic investment plan inflows through the platform posted strong growth, rising 30 percent year-on-year to Rs 12,328 crore in the December quarter, compared with Rs 9,476 crore a year earlier. (Source: IANS)
