Billionbrains Garage Ventures Ltd reported its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors approved the results at a meeting held on July 15, 2026. A Limited Review of these financial results has been carried out by the Statutory Auditors as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company disclosed that the unaudited financial results were published in the Financial Express and Kannada Prabha. The reports have been uploaded to the company's website. The filing was submitted to the BSE Limited and the National Stock Exchange of India Ltd.

Unaudited Standalone Financial Results

The standalone financial results for the quarter ended June 30, 2026, showed a total income of ₹1,332.71 crore. The net profit for the period after tax was ₹223.42 crore. The total comprehensive income for the period stood at ₹226.60 crore.

Basic earnings per equity share (before and after extraordinary items) for the quarter was ₹4.43. Diluted earnings per equity share for the same period was ₹4.43.

Unaudited Consolidated Financial Results

On a consolidated basis, the company reported a total income of ₹1,488.19 crore for the quarter ended June 30, 2026. The net profit for the period after tax was ₹228.43 crore. The total comprehensive income for the period was ₹234.01 crore.

Basic earnings per equity share on a consolidated basis was ₹4.55, while diluted earnings per equity share was ₹4.55 for the quarter ended June 30, 2026. The earnings per share figures are not annualised.

Groww has received a reaffirmed Buy rating from Citi, with the global brokerage also raising its target price to ₹255. The revised target reflects Citi's view that new product launches offer meaningful upside potential for the platform, even as certain segments of the business show signs of moderation.

Moderating Momentum in Broking

Citi's assessment highlights a deceleration in key broking metrics for Groww. The brokerage points to slower growth in active users as well as a more gradual pace of market share gains within the broking segment. These trends indicate that the competitive dynamics in the discount broking space may be tempering Groww's near-term expansion pace in this core business area.

MTF Growth and Cash Yields Remain Supportive

Despite the moderation in broking activity, Citi notes that larger ticket sizes continue to lend support to Groww's Margin Trade Funding (MTF) business and cash yields. This dynamic suggests that while user acquisition momentum may have slowed, the quality and scale of transactions are helping sustain revenue-generating metrics within the platform.

Key Highlights from Citi's Assessment

The following table summarizes the key parameters from Citi's updated coverage on Groww:

New Product Launches as a Key Upside Driver

A central pillar of Citi's constructive stance is the potential contribution from new product launches. The brokerage views these initiatives as capable of providing incremental growth opportunities for Groww beyond its existing broking and MTF operations. This forward-looking element forms a key justification for both the maintained Buy rating and the upward revision in the target price to ₹255.