Groww cuts branding spend in Q3 FY26 as customer acquisition costs fall 33%

Billionbrains Garage Ventures, the parent company of online investment and brokerage platform Groww, reduced its spending on branding activities in the third quarter of fiscal year 2026, even as customer acquisition costs fell sharply and revenues continued to grow.

In its Q3 regulatory filing on Tuesday, the Bengaluru-based company said, “This quarter we spent less towards branding activities as compared to the previous quarter.” The company did not disclose absolute marketing or branding expenditure figures.

Groww reported a 33% quarter-on-quarter improvement in customer acquisition cost (CAC), which declined to Rs 900 during the October–December quarter.

Despite higher revenues, the company posted a 28% year-on-year decline in net profit to Rs 547 crore for the quarter, compared with Rs 757 crore in the same period last year.

Total revenue rose 26% year-on-year to Rs 1,261 crore and increased 18% sequentially from Rs 1,070 crore in the previous quarter. Adjusted EBITDA grew 24% year-on-year and 19% quarter-on-quarter to Rs 742 crore.

Groww’s transacting user base expanded 25% year-on-year to over 2 crore users, while active users grew 7.5% sequentially. The platform added 2.17 lakh NSE active clients during the quarter.

The company also reported a 39% year-on-year increase in total customer assets, reflecting continued growth in investor participation despite a more measured approach to branding and marketing spends.