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Billionbrains Garage Ventures Q2 FY27 results: net profit up 53.8% to ₹724.70 crore, revenue up 47.4%
Billionbrains Garage Ventures Limited reported consolidated Q2 FY27 revenue of ₹1,502 crore, up 47.4% from Q2 FY26, and a net profit of ₹724.70 crore, up 53.8%. EBITDA rose 60.4% to ₹968.51 crore and the margin expanded 5.2 percentage points to 64.5%, while profit and EPS were slightly lower than Q1 FY27.
Key points
- Consolidated Q2 FY27 revenue was ₹1,502 crore, up 47.4% from ₹1,019 crore in Q2 FY26.
- EBITDA was ₹968.51 crore, up 60.4%, while the margin increased 5.2 percentage points to 64.5%.
- Net profit was ₹724.70 crore, up 53.8% from ₹471.34 crore, and basic EPS was ₹1.17.
- Against Q1 FY27, revenue was ₹1,501 crore, EBITDA was ₹968.51 crore, net profit was ₹724.70 crore and basic EPS was ₹1.19.
- H1 FY27 revenue was ₹3,002.95 crore and net profit was ₹1,459.74 crore, up 56.1% and 71.8%, respectively, from H1 FY26.
How did Billionbrains Garage Ventures perform in Q2 FY27?
Billionbrains Garage Ventures reported consolidated revenue of ₹1,502 crore for Q2 FY27, up 47.4% from ₹1,019 crore in Q2 FY26. Total income increased 43.9% to ₹1,540.54 crore, EBITDA rose 60.4% to ₹968.51 crore and the EBITDA margin expanded 5.2 percentage points to 64.5%.
Profit before tax rose 54.3% to ₹984.61 crore, while tax increased 55.8% to ₹259.16 crore. The company reported a net profit of ₹724.70 crore, up 53.8% from ₹471.34 crore, and basic EPS of ₹1.17 compared with ₹0.79. On the standalone basis, revenue was ₹917.56 crore and profit was ₹591.76 crore.
Against Q1 FY27, revenue was ₹1,501 crore in Q1 and ₹1,502 crore in Q2. EBITDA fell from ₹970.68 crore to ₹968.51 crore and the margin declined 0.2 percentage points to 64.5%; net profit fell from ₹735.04 crore to ₹724.70 crore and basic EPS from ₹1.19 to ₹1.17.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,502 | 1,501 | 1,019 | +47.4% | +0.0% |
| Other income | 39.01 | 47.25 | 52.05 | −25.1% | −17.4% |
| Total expenses | 555.93 | 555.68 | 432.60 | +28.5% | +0.0% |
| EBITDA | 968.51 | 970.68 | 603.97 | +60.4% | −0.2% |
| EBITDA margin | 64.5% | 64.7% | 59.3% | +5.2 pp | −0.2 pp |
| Profit before tax | 984.61 | 992.99 | 638.20 | +54.3% | −0.8% |
| Tax | 259.16 | 257.23 | 166.34 | +55.8% | +0.8% |
| Net profit | 724.70 | 735.04 | 471.34 | +53.8% | −1.4% |
| EPS (₹) | 1.17 | 1.19 | 0.79 | +48.1% | −1.7% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Billionbrains Garage Ventures' costs and profit?
Total expenses increased 28.5% from ₹432.60 crore in Q2 FY26 to ₹555.93 crore in Q2 FY27. Employee cost rose ₹45.13 crore to ₹168.89 crore, depreciation increased ₹11.40 crore to ₹18.20 crore and other expenses increased ₹73.12 crore to ₹364.13 crore, while finance costs fell ₹6.32 crore to ₹4.71 crore. There was no exceptional item.
Other income fell ₹13.04 crore to ₹39.01 crore from ₹52.05 crore in Q2 FY26, while tax increased ₹92.82 crore to ₹259.16 crore. The company’s shareholders’ letter said higher trading days, one-time client reimbursements for abnormal trades and AI-related compute inflation drove the increase in Cost to Serve; it said inflation-driven costs would remain in the operational baseline.
The shareholders’ letter said Cost to Grow fell quarter on quarter because there were no IPL brand expenses in Q2 FY27. Cost to Operate included ₹5 crore of CSR expenses, with a further ~₹28 crore expected in H2 FY27. It also said Equity Derivatives revenue declined 14.3% quarter on quarter, which it attributed largely to CAS.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 168.89 | 123.76 | +45.13 | +36.5% |
| Finance costs | 4.71 | 11.03 | −6.32 | −57.3% |
| Depreciation | 18.20 | 6.80 | +11.40 | +167.6% |
| Other expenses | 364.13 | 291.01 | +73.12 | +25.1% |
| Total expenses | 555.93 | 432.60 | +123.33 | +28.5% |
| Other income | 39.01 | 52.05 | −13.04 | −25.1% |
| Tax | 259.16 | 166.34 | +92.82 | +55.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue rose 56.1% to ₹3,002.95 crore from ₹1,923.14 crore in H1 FY26. Total income increased 53.0% to ₹3,089.21 crore, while profit before tax rose 73.2% to ₹1,977.6 crore.
Net profit for the first half increased 71.8% to ₹1,459.74 crore from ₹849.71 crore. Basic EPS rose from ₹1.46 to ₹2.36, an increase of ₹0.90 or 61.6%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,003 | 1,923 | +56.1% |
| Profit before tax | 1,978 | 1,142 | +73.2% |
| Net profit | 1,460 | 849.71 | +71.8% |
| EPS (₹) | 2.36 | 1.46 | +61.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹19,792.01 crore at 30 September 2026 from ₹18,540.92 crore at 31 March 2026, while total equity rose to ₹11,655.8 crore from ₹9,651.35 crore. Borrowings fell to ₹21.0 crore from ₹224.01 crore and cash declined to ₹265.35 crore from ₹1,165.47 crore.
H1 FY27 operating cash flow was an outflow of ₹827.73 crore, compared with an outflow of ₹152.74 crore in H1 FY26. Investing cash flow was an outflow of ₹44.65 crore versus ₹1,308.04 crore, while financing cash flow was an outflow of ₹27.75 crore against an inflow of ₹1,301.38 crore. Capital expenditure was ₹9.85 crore, compared with ₹5.69 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 19,792 | 18,541 |
| Total equity | 11,656 | 9,651 |
| Borrowings | 21 | 224.01 |
| Cash and equivalents | 265.35 | 1,165 |
| Inventories | 0 | 0 |
| Trade receivables | 356.06 | 277.46 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −827.73 | −152.74 |
| Cash from investing | −44.65 | −1,308 |
| Cash from financing | −27.75 | 1,301 |
| Capital expenditure | 9.85 | 5.69 |
Source: Company's results filing (XBRL).
How has Billionbrains Garage Ventures done over the last 5 quarters?
Revenue rose across the five reported quarters, from ₹1,018.74 crore in Q2 FY26 to ₹1,501.53 crore in Q2 FY27. The highest revenue was reported in Q2 FY27, while the lowest was in Q2 FY26; the latest quarter was broadly unchanged from Q1 FY27.
Net profit increased from ₹471.34 crore in Q2 FY26 to a peak of ₹735.04 crore in Q1 FY27 before easing to ₹724.70 crore in Q2 FY27. The EBITDA margin peaked at 64.7% in Q1 FY27 from a low of 59.2% in Q3 FY26 and was 64.5% in the latest quarter.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. It also approved requests to reclassify certain promoter group members from the “Promoter Group” category to the “Public” category, subject to the prescribed approvals.
The company filed an application with the stock exchanges seeking approval for that promoter-group reclassification. It also uploaded its key performance indicators to its investor-relations website. No dividend or fund-raise decision was stated in the same-day filings provided.
The company separately reported an inadvertent contra-trade violation by finance manager Sankalp Yadav, who bought two shares and sold two shares on 26 August 2026 and bought one share on 17 September 2026. The audit committee said no profit was disgorged because the trades were executed in loss.
What did Billionbrains Garage Ventures' management say?
Management said Cost to Serve is expected to remain elevated because of AI compute costs, with exchange trading-day volume as another swing factor. It said CAS is expected to normalise rather than lift derivative volumes once SEBI sets the effective date, and that US stocks remain in beta testing without a committed full-launch timeline.
Management identified competitive intensity, mid-cap volatility affecting the MTF book, uncertainty around the CAS effective date, structurally higher AI compute costs and possible UPI MDR pricing as risks. It said the MTF policy now considers industry-level concentration and applies self-imposed haircuts of up to 80% on risky names, with no material one-off impact in Q2 compared with March.
How did Billionbrains Garage Ventures shares react?
From the price when the filing appeared, Billionbrains Garage Ventures fell 1.1% after 5 minutes, fell 1.0% after 15 minutes and rose 0.8% after 30 minutes. On the reaction day, it fell 0.6% from the previous close, while the Stockbroking & Allied sector median fell 0.2%, leaving the stock 0.4 percentage points behind the sector.
By the next day's close, the stock was up 2.1% from its pre-results close, compared with a 0.6% decline for the sector median and a 0.3% decline for the Nifty Midcap 150. By the fifth session's close, it was down 3.3% from the pre-results close, versus a 5.5% sector decline and a 3.7% market decline.
Earlier results-day reactions were positive on 15 July 2026, when the stock rose 6.5%. It fell 1.0% on 20 April 2026, rose 0.9% on 14 January 2026 and rose 0.3% on 21 November 2025.
| After the filing | Stock | Stockbroking & Allied median |
|---|---|---|
| 5 minutes | −1.1% | |
| 15 minutes | −1.0% | |
| 30 minutes | +0.8% | |
| Reaction day | −0.6% | −0.2% |
| Next day | +2.1% | −0.6% |
| 5 days | −3.3% | −5.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 15 July 2026 | +6.5% |
| 20 April 2026 | −1.0% |
| 14 January 2026 | +0.9% |
| 21 November 2025 | +0.3% |
Source: MarketPing price-reaction measurement.
How did other Stockbroking & Allied companies do?
Among 27 Stockbroking & Allied companies compared for the quarter, the median revenue growth was 11.8%. Twenty-three peers grew slower than Billionbrains Garage Ventures, while four grew faster than the company.
Of the 26 peers for which profit was compared, 15 reported higher profit.
| Billionbrains Garage Ventures revenue growth (YoY) | +47.4% |
|---|---|
| Median of 27 other Stockbroking & Allied companies | +11.8% |
| Companies with slower revenue growth than Billionbrains Garage Ventures | 23 of 27 |
| Companies with faster revenue growth than Billionbrains Garage Ventures | 4 of 27 |
| Companies whose net profit rose | 15 of 26 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Billionbrains Garage Ventures' revenue in Q2 FY27?
Revenue from operations was ₹1,502 crore, up 47.4% from ₹1,019 crore in Q2 FY26 (consolidated).
Did Billionbrains Garage Ventures make a profit in Q2 FY27?
Yes. Net profit was ₹724.70 crore, against a net profit of ₹471.34 crore in Q2 FY26.
What was Billionbrains Garage Ventures' EPS in Q2 FY27?
Basic earnings per share were ₹1.17, against ₹0.79 in Q2 FY26.
How did Billionbrains Garage Ventures shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.6% from the previous close; the median Stockbroking & Allied stock moved −0.2%.
When did Billionbrains Garage Ventures announce its Q2 FY27 results?
On 14 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 7 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 14 October 2026) · PDF
- The earnings call (16 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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