growwImage Credit source: AI
Groww’s parent company BillionBrains Garage Ventures released Q3 FY26 results. The total revenue of the company increased by 24% to Rs 974.53 crore. But net profit fell by 27.8% to Rs 546.93 crore from Rs 757.11 crore in the same quarter last year. This profit belongs to the shareholders of the company. The company had recently had its IPO, in which investors got good profits.
If we talk only about the standalone company, then the profit after tax i.e. PAT fell sharply by 36.7% to Rs 428.45 crore from last year’s Rs 677.46 crore. At the operating level, the company performed well and Adjusted EBITDA increased from Rs 598.1 crore last year to Rs 741.80 crore.
Grow’s customers?
Despite the decline in the market, Grow’s user growth remained very strong. The number of users doing transactions increased by 25% and now the company has more than 2 crore customers. There was a quarter-on-quarter growth of 7.5% in active users. In October, November and December, Groww was the only major broker showing continuous growth. During this period, 2.17 lakh new NSE active customers were added to the platform. Also, total assets under management of customers increased by 39% on annual basis.
The company has made a deal here
Another big update is that the company is now going to buy additional shares in Grow Asset Management Limited. It is already a 100% subsidiary of the company. Apart from this, BillionBrains George Ventures has made a deal with State Street Global Advisor. SSGA will invest up to Rs 580.02 crore in Groww AMC, which includes both purchase of old shares and subscription of new shares. After this investment, BillionBrains’s holding in Grow AMC will reduce by about 23%. Overall, there is good growth in revenue and user base, but there is still pressure on profit. With the new big investment in Groww AMC, the mutual fund business can become stronger further.
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