Net profit for the period increased by 16% on a sequential basis to ₹547 crore from ₹471 crore in September. Its revenue grew by 19.4% on a quarter-on-quarter basis to ₹1,216 crore from ₹1,019 crore.
Groww's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter increased by 19% to ₹720.3 crore from ₹604 crore in the September quarter.
EBITDA margin for the quarter remained flat at 59%, which was also the same figure it reported during the September quarter.
Earlier in the day, brokerage firm Citi initiated coverage on Groww, with a "buy" recommendation and a price target of ₹195 per share.
Shares of Billionbrains Garage Ventures are now down to the lows of the day, currently trading 2.8% lower at ₹158.1.
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