Billionbrains Garage Ventures, the parent company of Groww, a stock broking platform, saw a significant drop in profits in the third quarter of the financial year 2026. The company’s consolidated net profit fell by 27.8% year-on-year to Rs 546.93 crore in Q3 FY26, down from Rs 757.11 crore in the same period last year.
Meanwhile, revenue from operations increased by 24.8% to Rs 1,216.07 crore from Rs 974.53 crore reported a year ago, as per the company’s stock exchange filing. Despite this, the company’s standalone performance was weaker, with profit after tax declining by 36.7% year-on-year to Rs 428.45 crore in the December quarter.
Adjusted EBITDA, however, showed improvement during the quarter, reaching Rs 741.80 crore, up from Rs 598.1 crore in Q3 FY25, according to the company’s investor presentation. Despite challenges in the broking industry, Groww continued to attract users at a healthy rate.
The total transacting user base of the company grew by 25% and surpassed the 2 crore mark, with active users also showing a 7.5% quarter-on-quarter growth. In Q3, Groww stood out as the only major broker to witness growth in all three months—October, November, and December—adding 2.17 lakh active NSE clients in the quarter.
The total value of customer assets on the platform surged by 39% year-on-year. Groww also enhanced its position in equity markets, with its market share in cash equities rising to 28.8% in Q3 from 21.6% a year ago. Moreover, in equity derivatives, the company’s market share spiked from 12.2% to 18.1% during the same period.
Retail cash average daily turnover grew by 21% to Rs 11,331 crore, while retail derivatives average daily turnover soared by 45% to Rs 11,483 crore. In the mutual fund segment, Groww experienced a slight increase in market share from 12.3% to 13.7%.
SIP inflows through the platform displayed robust growth, rising by 30% year-on-year to Rs 12,328 crore in Q3 from Rs 9,476 crore in the previous year’s quarter.
