
Billionbrains Garage Ventures Ltd., the parent company of trading platform Groww, witnessed over 5% gains in Friday’s morning session. This development came after the company posted its September quarter results, its first earnings report since listing.
However, later in the day stock eased and removed major gains.
At around 2.18 PM, Groww was trading 0.44% higher at ₹157.40, against the previous close of ₹156.71 on NSE. The counter touched an intraday high and low ₹168.39, and ₹155.60, respectively.
The business posted a net profit of ₹471.30 Crore. This is higher by 12% against ₹420.10 Crore in the previous corresponding quarter. On a sequential basis, profit came in higher by 24.60% against ₹378 Crore in the previous quarter.
The bottomline was aided by higher other income. It came in at ₹52 Crore against ₹34.60 Crore in the previous corresponding quarter.
Revenue from operations for the quarter slipped about 9.5% y-o-y to ₹1,018.70 Crore as compared to ₹1,125.30 Crore. It jumped about 12.70% against the previous quarter.
EBITDA for the quarter registered a 9.70% y–o-y growth at ₹603.30 Crore, versus ₹550 Crore in the same quarter of previous year.
As per the company’s investor presentation, the company believes it is now at an inflection point.
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