Groww Q2 Profit Jumps 54% YoY to ₹725 Cr, Revenue Rises 47%

Investment technology firm Groww announced its second-quarter financial results, showing a 54% year-over-year increase in consolidated net profit. The company's profit reached ₹724.7 crore (approximately $87 million) for the period, up from ₹471.3 crore in the prior year's second quarter.

Groww's operating revenue grew by 47.4% to ₹1,501.5 crore ($180 million), compared to ₹1,018.7 crore in the second quarter of the previous fiscal year. However, on a sequential basis, profit saw a slight decline of 1.4% from ₹735 crore, while revenue remained nearly flat.

The company's total expenses increased by 28.5% to ₹555.9 crore. This expense growth lagged behind the operating revenue increase, contributing to the rise in profitability. Total income, including other income, stood at ₹1,540.5 crore.

The sequential decrease in profit was partly attributed to a drop in other income, which fell from ₹47.3 crore in the previous quarter. Groww also experienced a slight increase in its tax bill during the period.