Groww's Q2 Profit Jumps 54% to ₹725 Crore as Its Reliance on F&O Revenue Falls

Stockbroking platform Groww reported a 54% rise in net profit to about ₹725 crore for the September quarter (Q2 FY27), up from ₹471 crore a year earlier, as revenue grew 47%.

Operating revenue rose to ₹1,501.5 crore. Including other income of ₹39 crore, total income was ₹1,540.5 crore, against ₹1,070.8 crore a year ago. Compared with the previous quarter, profit dipped about 1% and revenue was broadly flat.

Less dependent on derivatives

Equity derivatives brought in 44.8% of Groww's revenue in the quarter, down from 56.9% a year earlier, and derivatives revenue fell 14.3% from the previous quarter. Groww attributed the fall to a change in exchange trading rules, and reports linked it to SEBI's Closing Auction Session. Commodities trading and margin financing offset part of the pressure.

Its asset management arm, Groww AMC, more than doubled its assets under management to ₹7,179 crore.

Why it matters

Futures and options trading has been the biggest earner for India's discount brokers, and also the activity regulators have been working hardest to cool. Groww's quarter shows profit can keep growing while derivatives shrink as a share of the business, as long as newer lines such as commodities, margin lending and mutual funds pick up the slack.