Groww Q1 profit jumps 94% on 66% revenue surge
The stockbroker's top and bottom lines continue their upward trajectory, but the figures were anticipated. Board approves share capital reclassification and appoints EY as internal auditor.
— 4 earlier stories on Billionbrains Garage Ventures Ltd. →What's new
- Revenue rose 66% YoY to ₹1,501 cr; net profit jumped 94% to ₹735 cr.
- Board approved reclassification of authorised share capital, eliminating preference shares.
- Ernst & Young appointed as internal auditor for FY26-27.
Why this matters
On trailing multiples of 60x P/E, Groww's profit growth is strong but the strong results were anticipated per the analyst review. The procedural governance changes add no spark; the real question is whether this pace of profit growth is sustainable.
What we're watching
- Whether user growth (2.2 crore transacting users, up 24% YoY) keeps supporting the top line.
- Any regulatory shifts in the broking space that could affect commission income.
- The next big catalyst: State Street AMC deal closure.
The full read
Groww's first quarter as a public entity delivered ₹1,501 crore in revenue, up 66% from a year ago, and net profit of ₹735 crore, a 94% jump. On a trailing P/E of 60x, those numbers are strong but the analyst view is that they were anticipated. The board approved two procedural items: a reclassification of authorised share capital to eliminate the preference share class (fixing total at ₹5,000 crore in equity), and the appointment of Ernst & Young as internal auditor. The company also confirmed no deviation in the use of its ₹1,060 crore IPO proceeds. Statutory auditor BSR & Co. gave an unqualified review. None of this shifts the narrative. What matters ahead is whether transacting user growth (last reported at 2.2 crore, up 24% YoY) can sustain the trajectory, and when the State Street AMC deal closes.
Questions answered
- How did Groww's Q1 revenue and profit compare to expectations?
- The filing did not provide market expectations, but the analyst rationale notes the strong growth was anticipated. Actuals: revenue ₹1,501 cr (+66% YoY), PAT ₹735 cr (+94% YoY).
- What is the change in authorised capital about?
- The board approved reclassifying authorised capital to eliminate preference shares and fix total at ₹5,000 cr divided into 2,500 cr equity shares, subject to shareholder approval.
- Why was a new internal auditor appointed?
- The board appointed Ernst & Young LLP as internal auditor for FY26-27, replacing the outgoing firm. This is a routine governance change.
- Did Groww use its IPO proceeds as stated?
- Yes, the company filed a statement confirming no deviation in the use of its ₹1,060 crore IPO proceeds.
- What did the statutory auditor say?
- BSR & Co. LLP issued an unqualified limited review opinion on the quarterly results.
- Was this quarter a surprise for the market?
- The filing notes the strong growth was anticipated. No unexpected material deviation.
Story so far
All notes on GROWW →- 15 Jul 2026 · 11:36 AM IST Groww Q1 profit jumps 94% on 66% revenue surge
- today Groww maps decade-long shift to wealth management, keeps targets vague
- today Groww gets SEBI-CCI nod for State Street's AMC investment
- today Groww revenue up 66%, net profit up 94% in June quarter
- today Groww Q1 revenue jumps 66% to ₹1,501 crore, profit up 94%