Groww profit jumps 122% to ₹686 crore, revenue rises 88%
EBITDA surges 142%, margins expand to 62% on strong user growth
Stock slips despite strong Q4 as gains largely priced in
Groww Reports Strong Q4, Profit Jumps 122%, Margins Expand
EBITDA rises to ₹939 Crore with margins at 62%; user growth and higher market activity drive performance, stock slips post results
Groww
Summary
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Digital investment platform Groww, operated by parent Billionbrains Garage Ventures, reported a sharp rise in earnings for the March quarter (Q4 FY26), driven by strong user growth and increased activity across its platform.
The company posted a 122.06% year-on-year (YoY) jump in consolidated profit after tax (PAT) to ₹686.35 crore, compared with ₹309.08 crore in the same quarter last year.
Revenue from operations rose 87.93% YoY to ₹1,505.36 crore, reflecting robust growth in its core business segments. Operating performance also improved significantly, with EBITDA surging 141.78% to ₹939 crore from ₹388 crore a year ago. EBITDA margin expanded to 62.35% from 48.47%, indicating strong operating leverage.
User Growth, Platform Activity Remain Strong
Groww reported steady growth in its user base, with active users increasing 19.9% YoY and 4.7% sequentially. The company said momentum in new user acquisitions continued during the quarter, supporting higher engagement levels.
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Total customer assets stood at around ₹3 lakh crore as of March 31, marking a 36% increase YoY, although it declined marginally by 1.1% sequentially due to mark-to-market impact during the quarter.
Product adoption improved across segments, with product attach rising to 72% for stocks, 60% for mutual funds and 10% for equity derivatives. The company also saw increased customer activity across existing products, contributing to overall growth.
Groww's market share in the mutual fund segment rose to 14%, up from 12.3% a year ago, highlighting its expanding presence in the retail investment ecosystem.
Volatility and Stock Reaction
The company noted that heightened market volatility, driven by geopolitical tensions in West Asia, led to increased user activity, particularly in derivatives and commodities segments.
However, it also cautioned that higher activity levels come with elevated costs due to increased risk and volatility, which could impact near-term margins.
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Despite the strong earnings performance, Groww shares were marginally lower, trading around ₹197.45 after the announcement. The stock has seen a sharp rally in recent sessions and had earlier touched a post-listing high of ₹214.36.
The stock has nearly doubled from its issue price of ₹100 and remains up about 29.9% year-to-date, reflecting strong investor interest in digital investment platforms.