Groww-aktien stiger efter kraftig kvartalsvinst på ökad handelsaktivitet

Groww parent Billionbrains Garage Ventures reported that its consolidated net profit nearly doubled in the first quarter, driven by strong growth in transacting users and higher trading activity across its investment platform.

Resultaten förbättrade också investerarsentimentet, och bolagets aktie steg under handeln.

The company posted a consolidated net profit of 7.35 billion rupees ($76.5 million) for the quarter ended June 30, compared with 3.78 billion rupees in the corresponding period a year earlier.

Bolagets aktie steg initialt nära 8% efter resultatrapporten.

At the time of writing, the stock was trading 4.1% higher at 212.22 rupees.

Användartillväxt driver kvartalsresultatet

The online brokerage said the number of transacting users increased to 22 million during the quarter.

Det motsvarade en ökning med 24% year-on-year och en sekventiell ökning med 4%, vilket visar fortsatt kundengagemang på plattformen.

According to the company's website, Groww, which was founded almost a decade ago, is India's largest online investment platform by active users, serving more than 50 million customers.

Bolaget rapporterade också fortsatt expansion i kundernas innehav.

Total customer assets increased 38% from a year earlier and 22% sequentially, reflecting sustained growth in assets managed through the platform.

Marknadsandelar växer trots branschnedgång

Groww said it continued to gain market share during the quarter despite weakness across the broader brokerage industry.

The company added 115,000 active National Stock Exchange clients during the reporting period.

In contrast, the overall industry recorded a net decline of 257,000 clients, according to the company.

The brokerage also pointed to stronger performance in its commodities derivatives business, which contributed to the quarter's results.

According to the company, the number of active users in the commodities derivatives segment increased 10.7% sequentially to 435,000 during the quarter.

Bolaget sade att det högre bidraget från denna verksamhet stödde den övergripande finansiella prestationen.

Intäkterna ökar snabbare än kostnaderna

Revenue from operations rose 66% year-on-year to 15.01 billion rupees, reflecting increased trading activity and platform growth.

Samtidigt ökade kostnaderna 25%, i en långsammare takt än intäkterna, vilket understödde den kraftiga ökningen i kvartalsvinsten.

The quarterly results indicate that Groww continued to expand its user base and customer assets while strengthening its position in India's online brokerage market.

The company's ability to add active exchange clients even as the broader industry experienced a net decline also highlighted its relative market strength during the quarter.

Investerarsentimentet förblev positivt efter resultatrapporten, och aktien bibehöll vinster under eftermiddagshandeln efter en initial uppgång.

The results were supported by continued customer growth, higher revenue from operations, and increased participation in the commodities derivatives business, according to the company.