Billionbrains Garage Ventures Ltd. has reported a double-digit sequential growth in revenue and profit in the third quarter of the current financial year while the company also announced the sale of Groww AMC.
The stockbroker reported a consolidated top line of Rs 1,216 crore in the October-December period, compared to Rs 1,018 crore in the preceding quarter, according to an exchange filing on Wednesday.
Groww Q3 Results (Consolidated, QoQ)
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Revenue up 19.44% at Rs 1,216 crore versus Rs 1,018 crore.
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EBITDA up 19.37% at Rs 720.8 crore versus Rs 603.8 crore.
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EBITDA margin at 59.27% versus 59.31%.
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Net profit up 16.13% at Rs 547 crore versus Rs 471 crore.
Groww also reported a bottom line of Rs 547 crore, accounting for gains of up to 16.13% compared to the previous quarter.
While profit and revenue saw sequential growth, margin saw a slight decline of three basis points to 59.27%.
Moreover, the stockbroking firm announced a stake sale in Groww AMC, shedding a stake of around 4.99% for Rs 580 crore. Groww AMC is a wholly-owned non-material subsidiary of Billionbrains Garage Ventures.
State Street Global Advisor is set to acquire the selling stake in Groww AMC.
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