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Dhan swings to profit in FY24 with gross revenue of Rs 380 crore, up 600% year-on-year

Economic TimesEconomic Times · 1y ago
Dhan swings to profit in FY24 with gross revenue of Rs 380 crore, up 600% year-on-year
Medial

- Stock broking startup Raise Financial Services (Dhan) has reported gross revenues of Rs 380 crore for 2023-24, up 600% from the previous year. - Dhan reported a net profit of Rs 155 crore compared to a net loss of Rs 22 crore in the previous fiscal. - The company expects a 25-30% impact on its gross revenue due to recent regulatory actions on the futures and options market. - Dhan has about 740,000 active traders, making it one of the top 10 stock brokers in India in terms of active traders. - The company is in talks with potential investors to raise fresh venture funding and plans to go public in the next three to five years. - Other discount brokers like Zerodha and Groww have also performed well, with Zerodha reporting a 61% YoY jump in net profit and Groww reporting a net profit of Rs 297 crore in its broking business for the fiscal.

Groww retains lead in stock broking amid falling user base in September

EntrackrEntrackr · 16d ago
Groww retains lead in stock broking amid falling user base in September
Medial

Groww retains lead in stock broking amid falling user base in September India’s active stock market users fell 1.92% in Sept to 45.31M after a brief rebound; IPO-bound Groww led with 11.91M users, down 1.36% MoM. The Indian stock market’s active user base, after rebounding in August 2025 with 0.5% growth to 46.19 million clients, fell once again in September 2025 by 1.92% to 45.31 million clients. IPO-bound Groww maintained its leadership in the stockbroking space with 11.91 million active users and a 25.78% market share, though its user base slipped 1.36% month-on-month from 12.07 million in August. Zerodha retained the second spot with a 15.34% market share and 7.09 million active clients, followed closely by Angel One with 6.89 million clients and a 14.91% share. Both brokers recorded month-on-month declines of 2.43% and 2.28%, respectively. Upstox witnessed another sharp month-on-month decline of 4.24%, taking its active client base down to 2.28 million and its market share to 4.93%. Among traditional stock brokers, ICICIDirect with 1.97 million users (4.28% share), HDFC Securities with 1.52 million (3.28%), and Kotak Securities with 1.41 million (3.05%) maintained their positions at fifth, sixth, and seventh place respectively. Recently turned unicorn Dhan, which raised $120 million at a $1.2 billion valuation, maintained its position at the ninth spot with a 2.12% market share and 9.8 lakh active clients despite a 0.97% month-on-month decline. Paytm Money, with 7.8 lakh users and a 1.68% market share, moved up to the 11th position after registering 2.28% month-on-month growth, while INDmoney slipped to 12th with 7.4 lakh users and a 1.60% share following a 3.86% decline. Mirae Asset saw the largest month-on-month jump of 12.35% reaching 3.3 lakh active users, while PhonePe’s Share.Market recorded a further decline of 5.29% to 2.9 lakh users.

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