Dhan Parent Profit Falls 20% Despite Revenue Surge

Raise Securities, parent of stockbroking platform Dhan, reported a 20% decline in FY26 net profit to ₹325.8 Cr from ₹408.1 Cr in FY25. Net operating income rose 14% to ₹904.9 Cr. Higher marketing costs and team expansion drove the profit drop. ICRA assigned an A+ long-term rating with stable outlook.