New Delhi [India], January 14 (ANI): Billionbrains Garage Ventures Limited, the parent company of investment platform Groww, reported a consolidated total income of Rs 12,611 million for the third quarter of fiscal year 2026, marking an 18 per cent quarter-on-quarter increase. Compared to the same period last year, total income rose 26 per cent, while profit after tax declined 28 per cent during the quarter, according to a regulatory filing by Groww.
The growth in income was driven by a 7.5 per cent increase in active users and greater adoption of new products, including commodity derivatives and margin trading facilities, which accounted for 49 per cent of the total income growth.
The company also announced a Rs 5,800 million investment from US-based State Street Investment Management (SSIM) for an approximate 23 per cent stake in its subsidiary, Groww Asset Management Limited. SSIM, the asset management division of State Street Corporation, is the fourth-largest global asset manager with $5.5 trillion in assets under management as of September 2025. The transaction remains subject to regulatory approvals.
Groww noted a shift in its revenue mix, with primary products such as stocks and equity derivatives contributing 72 per cent of total income in the current quarter, down from 81 per cent last year. The decline in profit after tax to Rs 5,469 million was attributed to the reversal of a one-time long-term management incentive provision that had boosted prior-year figures. Excluding this non-recurring item, operational profit after tax grew 24 per cent year-on-year. The company reported an Adjusted EBITDA of Rs 7,418 million for the quarter.
The filing also highlighted growth in the platform’s credit business, with the Groww CreditServ book rising 7 per cent quarter-on-quarter to approximately Rs 13,900 million. While personal loans showed modest growth, the “loans against securities” segment more than doubled, representing 9.7 per cent of the total loan book. Total customer assets on the platform reached Rs 3.0 trillion, a 12 per cent increase from the previous quarter, driven largely by net inflows. (ANI)
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