Bengaluru-based stockbroking and investment platform Groww reported an almost 54% year-on-year improve in consolidated web revenue to Rs 725 crore within the second quarter of the monetary yr 2026-27 (Q2 FY27), as development in commodities buying and selling and margin financing helped offset strain on its fairness derivatives enterprise.

Billionbrains Storage Ventures, the mum or dad firm of Groww, had reported a web revenue of Rs 471 crore within the corresponding quarter of the earlier monetary yr.

In accordance with the corporate’s reported monetary outcomes for the quarter ended 30 September 2026, income from operations rose 47% to Rs 1,502 crore, in contrast with Rs 1,019 crore in Q2 FY26.

Groww earned a further Rs 39 crore from different earnings, taking its whole earnings to roughly Rs 1,541 crore, up 44% from Rs 1,071 crore a yr earlier.

On a quarter-on-quarter foundation, nonetheless, working income remained largely unchanged from Rs 1,501 crore in Q1 FY27, whereas consolidated revenue declined by roughly 1.4% from Rs 735 crore.

Groww’s bills rise as derivatives income share declines

Groww’s whole expenditure elevated by roughly 28% year-on-year to Rs 556 crore throughout Q2 FY27, in contrast with Rs 433 crore within the corresponding quarter final yr.

Worker profit bills stood at Rs 169 crore, accounting for greater than 30% of whole expenditure. Finance prices have been roughly Rs 4.7 crore, whereas depreciation and amortisation bills stood at Rs 18.2 crore.

The corporate’s monetary efficiency got here amid adjustments in India’s securities market rules, together with SEBI’s introduction of a Closing Public sale Session (CAS) within the fairness money phase.

Groww stated market changes following the introduction of CAS affected its fairness derivatives enterprise throughout the quarter.

The contribution of fairness derivatives to the corporate’s whole earnings declined to 44.8%, in contrast with 56.9% in Q2 FY26, a fall of roughly 12 proportion factors.

“Whereas the share of fairness derivatives in whole earnings declined 12 p.c year-on-year, pushed by market changes to CAS, we imagine this can get well as soon as the suggestions from SEBI’s session paper go into impact,” the corporate stated.

In the meantime, commodities buying and selling accounted for six.2% of Groww’s whole earnings throughout the quarter, in contrast with simply 0.2% a yr earlier.

The corporate’s Margin Buying and selling Facility (MTF), which permits traders to buy shares utilizing funds borrowed from their dealer, additionally expanded throughout the interval.

MTF’s contribution to whole earnings elevated to 10.1% from 7.4% in Q2 FY26, reflecting the rising significance of financing and commodities buying and selling to Groww’s enterprise.

Groww retains lead in India’s stockbroking market

Groww continued to broaden its buyer base and market share throughout a number of funding segments throughout the quarter.

The corporate’s whole transacting consumer base elevated 27% year-on-year to roughly 2.4 crore, whereas the worth of buyer belongings on its platform rose 46% to Rs 3.9 lakh crore.

In accordance with NSE information for September 2026, Groww retained its place as India’s largest stockbroker by energetic purchasers, with roughly 1.34 crore energetic customers and a market share of 29.16%.

The Lalit Keshre-led firm added 1,00,961 energetic purchasers throughout September, accounting for greater than 60% of the business’s web consumer additions that month.

Zerodha remained the second-largest dealer with a market share of 14.73%, adopted by Angel One at 14.65%.

In the meantime, rising stockbroker Sahi recorded the quickest proportion development in energetic purchasers among the many nation’s prime 20 brokers for the second consecutive month.

Groww additionally elevated its market share throughout different funding classes.

Its market share in mutual funds rose to 14.8% from 13.1% a yr earlier, whereas its share within the fairness derivatives phase elevated to 11% from 8.6%.

Within the MTF enterprise, the corporate’s market share climbed to 2.7% from 1.6% in Q2 FY26.

The rise in derivatives market share got here regardless of the phase accounting for a smaller proportion of Groww’s general earnings.

Wealth administration and asset administration companies broaden

Groww’s wealth administration and asset administration operations additionally expanded throughout the quarter as the corporate continued to develop companies past its core stockbroking providers.

Property beneath administration (AUM) in its wealth administration division crossed Rs 10,000 crore.

In the meantime, Groww’s asset administration firm reported a 145% year-on-year improve in AUM to Rs 7,179 crore, in contrast with Rs 2,928 crore within the corresponding quarter final yr.

The corporate additionally reported finishing the combination of wealth administration platform Fisdom throughout the quarter, extending its presence in funding advisory and wealth administration providers.

The newest outcomes spotlight a shift in Groww’s earnings combine, with margin financing and commodities accounting for a bigger proportion of its enterprise than a yr earlier.

Nevertheless, fairness derivatives stay its largest earnings contributor, leaving the corporate uncovered to adjustments in buying and selling exercise and securities market rules.