Groww Posts Record Bottom-Line Performance in Q1FY26

19 September 2025

• Financial Performance (Q1FY26 vs Q1FY25): In Q1FY26, Groww reported a dip in revenue, with total income declining 9.5% YoY to ₹948 Cr from ₹1,048 Cr in Q1FY25, primarily due to lower broking commissions. Despite this, operating leverage supported profitability, as Profit Before Tax (PBT) rose 9.7% YoY to ₹503 Cr versus ₹458 Cr last year. Net Profit (PAT) grew 4.8% YoY to ₹378 Cr from ₹338 Cr in Q1FY25, making it Groww’s most profitable first quarter so far.
• Operational Metrics (Q1FY26 vs Q1FY25): Operational performance remained robust, with EBITDA rising to ₹483 Cr, translating into a margin of 50.9%, compared with 40.0% in the same period last year. Net profit margin improved to 39.9% in Q1FY26 from 32.3% in Q1FY25, highlighting efficiency gains at scale. Contribution margin stood healthy at 85.2%, broadly stable YoY, indicating strong cost discipline despite higher transaction volumes. Customer traction also strengthened, as the active customer base grew to 14.38 Mn, a 33.4% YoY increase, while customer assets reached ₹2.61 Lakh Cr, up 59.1% YoY.
• Strategic Developments: Q1FY26 was a mixed quarter for Groww, with softer revenue but record profitability at the bottom line. The company continued to expand its user base and customer assets at a healthy pace, reflecting strong trust in the platform. Efficiency gains supported margins even as trading activity moderated, showing that the business is able to scale sustainably. Groww remains focused on broadening its product suite, deepening engagement with retail investors, and investing in technology to enhance customer experience. With its IPO plans already in motion, the company is positioning itself for the next phase of growth while balancing profitability with long-term expansion.