Groww Q3 results: PAT down 28% despite rise in revenues and client base

Billionbrains Garage Ventures' net profit fell 28 per cent in the December quarter, even as revenues rose 16 per cent on growth in new segments and a rising active client base

Billionbrains Garage Ventures (Groww) registered a 28 per cent decline in net profit to ₹547 crore for the quarter ended December 2025. The country’s largest brokerage saw revenues rise 16 per cent to ₹1,261 crore, driven by contributions from new product segments such as commodity trading, loans against shares, and wealth management. On a sequential basis, profit and revenues were up 25 per cent and 19 per cent, respectively. 

The brokerage house also announced an agreement with US-based State Street Global Advisors for an investment of ₹580 crore for 23 per cent stake in Groww Asset Management. Upon completion of the proposed transaction, State Street will hold 4.99 per cent aggregate voting power in Groww AMC.

 

“State Street being one of the world’s largest players brings a lot of global practices that will help us build the business in India. This partnership will help us build a lot more credibility and have global access for the Indian business and likewise for the foreign investors for our products,” said the management in the analyst call post earnings. 

 

Groww said it was the only major brokerage to record growth in its active client base during the quarter, helping cement its leadership position. Its market share in the equities cash segment rose from 21.6 per cent in Q3 FY25 to 28.8 per cent in Q3 FY26, while its share in equity derivatives increased from 12.2 per cent to 18.1 per cent during the period. Meanwhile, its market share in the mutual funds segment rose marginally from 12.3 per cent to 13.7 per cent.

 

Shares of Groww ended at ₹163.6, up 0.6 per cent, valuing the firm at ₹1 trillion.