Groww Q3 Results: Revenue Jumps 25%, PAT Drops 28% at ₹547 Cr, Market Share Hits Record 28.8%

Online investing platform Groww reported strong operating performance in the third quarter of FY26, with revenue and profitability rising sharply on higher user activity and product diversification, even as reported net profit declined year-on-year due to a high base effect.

Total revenue rose 26% to ₹1,261 crore from ₹1,004 crore a year earlier, while adjusted EBITDA increased 24% to ₹742 crore. Net profit after tax stood at ₹547 crore, up 16% sequentially but down about 28% from last year, when earnings were boosted by a one-time post-tax gain of around ₹315 crore.

What Backed Groww’s Growth?

The company said growth was driven by sustained user additions, rising trading volumes and contributions from newer products.

Groww’s transacting user base grew about 25% year-on-year to cross 2 crore, while active users rose 7.5% quarter-on-quarter. It added around 2.17 lakh NSE active broking clients during the quarter and was the only large broker to record month-on-month growth in active clients through October, November and December.

Market share gains supported core revenues. Groww’s cash equity market share expanded to 28.8% in Q3 FY26 from 21.6% a year earlier, while its equity derivatives share rose to 18.1% from 12.2%. Retail cash average daily turnover increased 21% year-on-year to ₹11,331 crore, and retail derivatives turnover jumped 45% to ₹11,483 crore.

Product diversification was a key driver, with newer offerings contributing nearly half of incremental income growth during the quarter. Commodity trading, launched three months ago, crossed 2.5 lakh active traders and accounted for about 4% of total income. Groww’s lending arm expanded its NBFC loan book to around ₹1,390 crore, up 7% sequentially, with the loans-against-securities portfolio doubling during the quarter.

State Street’s Bet on Groww

Groww also highlighted a strategic investment of $65 million (about ₹580 crore) by State Street Investment Management in Groww Asset Management Company. The partnership is aimed at strengthening Groww’s asset management capabilities, expanding product offerings for Indian investors and enabling overseas distribution of Indian products.

The company said the year-on-year decline in reported profit largely reflects the absence of a one-off gain booked in Q3 FY25 related to incentive-cost reversals following its redomiciling exercise. On a comparable basis, operating profit rose about 24% year-on-year, indicating underlying improvement in profitability.

Mutual fund activity remained strong, with SIP inflows rising about 30% year-on-year to ₹12,328 crore and market share edging up to 13.7%. Groww added that nearly half of its active users now use two or more products on the platform, supporting deeper engagement and cross-selling.