New Delhi — Billionbrains Garage Ventures, the parent company of Indian online brokerage platform Groww, reported a 1.4% sequential decline in consolidated net profit for the second quarter of fiscal 2027, sending its shares lower despite strong year-over-year growth.
The company posted a net profit of 7.25 billion rupees for the quarter ended September 2026, compared with 7.35 billion rupees in the preceding quarter.
Revenue from operations slipped 0.5% quarter-over-quarter to 15.41 billion rupees from 15.49 billion rupees in the April-June period.
However, the company’s annual performance remained strong. Net profit increased 53.9% from 4.71 billion rupees in the same quarter last year, while revenue climbed 43.9% from 10.71 billion rupees.
Groww reported that its total number of transacting users reached 24 million, while customer assets increased 46% year-over-year to 3.9 trillion rupees.
The company’s revenue mix also shifted during the quarter, reflecting changes in trading activity and demand for financial services.
Equity derivatives accounted for 44.8% of total revenue, down from 56.9% in the corresponding quarter last year. Meanwhile, the contribution from commodity derivatives increased to 6.2% from just 0.2%.
Revenue generated through the company’s Margin Trading Facility, which allows investors to borrow funds for stock purchases, increased to 10.1% of total revenue from 7.4% a year earlier.
Groww’s asset management business also recorded significant growth. Assets under management at Groww AMC surged 145% year-over-year to 71.79 billion rupees, compared with 29.28 billion rupees in the previous year.
The proportion of actively managed assets increased to 57% from 47%, while the asset management division’s revenue jumped 131% annually. However, the business reported a net loss of 83 million rupees for the quarter.
Shares of Groww declined following the earnings announcement, falling 1.54% to 190.80 rupees on the Bombay Stock Exchange during Wednesday’s trading session.
The stock has lost more than 1% over the past six months, declined 5.64% over three months and fallen nearly 4% in the past month.
According to BSE data, Groww shares have traded between a 52-week high of 227 rupees and a low of 112.02 rupees.
The quarterly results highlight Groww’s continued expansion in India’s retail investment market, although sequential declines in profit and revenue indicate slower growth compared with the previous quarter. (Source: IANS)
