New Delhi, Nov. 21 -- Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, reported a 12% year-on-year rise in net profit for the first half of FY26, marking its first earnings disclosure since listing on the bourses.
The company's bottom line rose to nearly Rs 850 crore in April-September from Rs 758 crore a year ago, aided by lower expenses.
However, revenue from operations declined 10% year-on-year to Rs 1,923 crore during the period. Total non-tax expenses fell 26% to Rs 877 crore in the first half of FY26.
Sequentially, net profit increased to Rs 471 crore in July-September from Rs 378 crore in April-June.
Groww has posted a net profit in only two of the previous four financial years, according to VCCEdge.
The company listed on November 12 at Rs 112 per share on the National Stock Exchange, a 14% premium to its IPO price. The stock gained as much as 24% in early trade on listing day.
The Bengaluru-based fintech shifted its domicile from the US to India in 2024 to pursue a domestic listing. It raised Rs 1,060 crore through a fresh issue of shares, while existing investors, including Peak XV, Ribbit, Tiger Global, and Y Combinator, divested shares worth up to Rs 5,572 crore.
The company received SEBI approval for its IPO in August.
Groww was valued at nearly $7 billion. At the upper end of the offer-for-sale size, Peak XV Partners, Ribbit Capital, Y Combinator, Tiger Global, and Propel Ventures booked hefty returns on their investments.
Founded in 2017 by former Flipkart employees Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, Groww offers stockbroking and direct mutual fund investment services, among other products.
Published by HT Digital Content Services with permission from VC Circle.