Groww Q2 Results: Net Profit Rises 12% YoY to ₹471 Crore, Revenue Falls 9.5%

Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, reported its financial results for the second quarter of FY26, marking its first quarterly performance announcement since listing on the stock exchanges earlier this month. The company posted a consolidated net profit of ₹471.4 crore in Q2 FY26, reflecting a 12% year-on-year increase from the ₹420.16 crore recorded in the same quarter of FY25.

However, the company’s revenue from operations registered a decline on an annual basis. Groww reported ₹1,018.7 crore in revenue for Q2 FY26, down 9.5% compared to ₹1,125.39 crore in Q2 FY25. Despite the drop in revenue, the company remained profitable due to tighter cost management and a notable reduction in overall expenses.

Expenses Decline on Sequential and Yearly Basis

Groww’s total expenses in the second quarter stood at ₹432.60 crore, down from ₹444.67 crore reported in Q1 FY26. On a year-on-year basis, expenses showed a steeper decline, falling from ₹589.80 crore in Q2 FY25.

The company’s expense structure included ₹123.76 crore under employee benefit expenses and ₹291.01 crore under other expenses. Lower expenses helped support the bottom line despite weaker revenue performance during the quarter.

For the first half of FY26, Groww reported ₹2,126.18 crore in revenue from operations, while net profit for the period stood at ₹849.71 crore. In comparison, the full financial year ended March 2025 had recorded ₹3,901.72 crore in revenue and ₹1,824.37 crore in profit.

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Strong Growth in User Base and Customer Assets

Alongside financial performance, Groww also reported substantial growth in its user metrics. The total number of transacting users reached 19 million, marking a 27% year-on-year increase. Customer assets on the platform rose sharply to ₹2.7 lakh crore, a 33% jump from the previous year.

According to the company’s shareholding letter, mutual funds accounted for 53% of total customer assets, indicating the segment’s substantial contribution to overall asset growth.

Stock Performance: Sharp Swings Post Listing

Groww’s stock has experienced significant volatility following its listing. In the past two trading sessions, the company witnessed a steep decline of nearly 17%, eroding more than ₹23,000 crore in market capitalisation.

However, on the day of the results announcement, the stock showed signs of recovery. As of 9:56 am, market capitalisation climbed back to above ₹1,03,300 crore. The shares rose more than 7%, hitting an intraday high of ₹168.39 apiece.

At that level, the stock was more than 50% higher than its listing price of ₹112 per share on the NSE and over 68% higher than its IPO price of ₹100 per share.

Following the release of quarterly results, the stock trimmed some of its early gains. By 10:43 am, shares were trading around ₹163.97 apiece, still up about 5% for the day.

Listing Performance Since Debut

Groww made its stock market debut on November 12, listing at ₹114 per share on the BSE — a 14% premium over its IPO price of ₹100. The stock surged rapidly in the following sessions, rising approximately 94% from its IPO price and hitting a high of ₹193.91 apiece within just five trading days.

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