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Groww Surges on 94% Profit Leap
17 Jul
Summary
- Consolidated net profit jumped 94% YoY to Rs 735 crore in Q1FY27.
- Revenue from operations increased 66% YoY to Rs 1,504 crore.
- Brokerages upgrade Groww to 'Buy' with a Rs 250 target price.
Billionbrains Garage Ventures, the parent entity of Groww, announced a significant financial upswing for the first quarter of fiscal year 2027. The company's consolidated net profit soared by 94.44% year-on-year, reaching Rs 735 crore from Rs 378 crore in the same period last year. Revenue from operations also saw a robust growth of 66%, climbing to Rs 1,504 crore from Rs 904 crore.
This financial performance has garnered positive attention from financial analysts. JM Financial upgraded Groww to a 'Buy' rating, citing improved growth visibility and operating leverage, and raised its target price to Rs 250. Similarly, Motilal Oswal reiterated its 'Buy' rating with an identical target price of Rs 250.
Groww highlighted its continued market leadership in key segments during the June quarter, adding 115,000 net clients and growing SIP inflows by 32% year-on-year in mutual funds. The company also emphasized its strategic investments in artificial intelligence to enhance customer service and product development, anticipating a transformative impact without a material margin impact.
