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Groww net income doubles, PAT quadruples to Rs 297.8 Cr in FY24

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Groww net income doubles, PAT quadruples to Rs 297.8 Cr in FY24

- Groww Invest Tech (GIT) witnessed a significant increase in net operating income to Rs 2,900 crore and a 4X growth in PAT to Rs 297.8 crore in FY24. - Billionbrains Garage Ventures (BGV), the parent company of GIT, reported a net worth of Rs 2,224 crore with minimal debt as of March 31, 2024. - GIT achieved a high Return on Net Worth (RoNW) of 40.3% in FY2024, indicating efficient utilization of equity to generate profits. - The company has a strong financial position with a net worth of Rs 887.4 crore, no debt, and access to unused bank credit lines and intraday funds for emergencies. - GIT is the leading discount broker in India with a 25% market share based on active clients on the NSE. It has experienced rapid growth in its client base. - DEMAT accounts in India reached a record 154 million by April 2024, reflecting the surge in retail investments in the country.

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