Groww parent Billionbrains Garage Ventures reported 54% annual growth in consolidated profit for the September quarter. Results released on 14 October show a different sequential picture: operating revenue barely changed and profit declined from June.[1]
Quarterly consolidated results
| Measure | Sep 2026 | Jun 2026 | Sep 2025 |
|---|---|---|---|
| Operating revenue | ₹15.02bn | ₹15.01bn | ₹10.19bn |
| Total income | ₹15.41bn | ₹15.49bn | ₹10.71bn |
| Net profit | ₹7.25bn | ₹7.35bn | ₹4.71bn |
Equity derivatives supplied 44.8% of total income, down from 56.9% a year earlier. Margin trading finance contributed 10.1%, against 4.7%, and commodity derivatives 6.2%, against 0.2%. These shares use total income; the letter’s separate unit-economics presentation excludes the asset-management company.[2]
Management attributed most of the 14.3% sequential decline in equity-derivatives revenue to market adjustments around the closing auction system. The expanding products helped absorb that decline, while changing the capital requirements of the business.[2]
For the six months ended September, the consolidated cash-flow statement records ₹19.15 billion deployed through an increase in loans. This contributed to ₹8.28 billion of net operating cash outflow after tax. Lending expansion therefore uses cash even while the group reports accounting profit.[1]
Its cost analysis, excluding the asset-management company, identifies ₹130 million of one-off client reimbursements for abnormal trades. Groww attributed these to an operational issue at a third-party market-infrastructure institution. A separate ₹130 million increase was linked to AI-related computing costs. Management expects inflation-driven technology costs to remain in the operating baseline.[2]
Sources & further reading
- Q2 FY27 consolidated and standalone financial results Billionbrains Garage Ventures · 14 Oct 2026 · Accessed 20 Oct 2026
- Q2 FY27 shareholders’ letter Billionbrains Garage Ventures · 14 Oct 2026 · Accessed 20 Oct 2026